Case Analysis for Limited Insolvency Exam

Practice Exams for LIE

Author: Atishay Jain

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How Does Liquidation Affect Employees?

When an insolvent company goes into liquidation, employees face a challenging period as the company ceases operations and ultimately stops all salary payments. During this time, understanding How Does Liquidation Affect Employees becomes crucial, as unpaid wages typically become a claim in the liquidation process. For employees, knowing their rights and exploring any available remedies […]

CONTINUE READING How Does Liquidation Affect Employees? 8 min read
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Difference between insolvency professional and registered valuer

In the insolvency and bankruptcy domain, insolvency professionals (IPs) and registered valuers (RVs) have crucial but distinctive roles within the insolvency process under the Insolvency and Bankruptcy Code, 2016 (hereon forward known as “the Code”). While IPs manage the overall insolvency resolution process, ensuring that it progresses in accordance with legal and regulatory requirements, RVs […]

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Company Liquidation Process in India Under IBC

Liquidation essentially means that the revival or restructuring of the company was unsuccessful. The Company Liquidation Process is the final step of the insolvency process under the Insolvency and Bankruptcy Code, 2016 (IBC). Under IBC and the relevant regulations, there is a systematic manner in handling the process of company liquidation What is liquidation of […]

CONTINUE READING Company Liquidation Process in India Under IBC 21 min read
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What is the difference between the SARFAESI Act and IBC?

To understand the difference between the SARFAESI Act and IBC, it’s important to recognize that the Insolvency and Bankruptcy Code (IBC), introduced in 2016, was designed to streamline the process of managing an insolvent’s liabilities and creditor claims through a structured, time-bound resolution. Unlike the SARFAESI Act, which primarily empowers secured creditors to seize and […]

CONTINUE READING What is the difference between the SARFAESI Act and IBC? 8 min read
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What is the Information Memorandum under IBC?

As per the Insolvency and Bankruptcy Code, 2016 and the relevant regulations, an Information Memorandum under IBC is a comprehensive document drafted by the resolution professional that contains all the relevant information of the corporate debtor to be conveyed to potential buyers and investors. This document also assists the insolvency professional in preparing the resolution […]

CONTINUE READING What is the Information Memorandum under IBC? 7 min read
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How to draft a resolution plan under IBC?

As per the resolution plan under IBC submitted by the insolvency professional, the Committee of Creditors and the Adjudicating Authority can decide whether the company is to be liquidated. Understanding the exact format of a resolution plan under IBC is crucial to ensuring the success of the resolution process, which may lead to the financially […]

CONTINUE READING How to draft a resolution plan under IBC? 8 min read
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Conflict of Jurisdiction between NCLT and Civil Courts

Conflict of Jurisdiction between NCLT and Civil Courts arises under the Insolvency and Bankruptcy Code, 2016 (IBC), which provides a legal framework for resolving financial distress within a strict timeframe. While the National Company Law Tribunal (NCLT) is designated to handle insolvency matters, other company-related issues fall under the jurisdiction of civil courts. However, the […]

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What are the common job roles in the insolvency field?

In insolvency proceedings, the insolvency practitioner takes on multiple roles, each demanding different responsibilities and skills depending on the stage of the process. One of their primary tasks is ensuring that the interests of the corporate debtor, creditors, stakeholders, and other parties are balanced without causing harm to another. Practitioners may act as liquidators, administrators, […]

CONTINUE READING What are the common job roles in the insolvency field? 7 min read
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Who can initiate corporate insolvency resolution process

The ccorporate insolvency resolution process profession is a mechanism under the Insolvency and Bankruptcy Code, 2016 (IBC) for company’s who are facing financial distress to either revive, rehabilitate, or resolve their situation. This includes the involvement of the corporate debtor’s creditors, insolvency professionals, and the Adjudicating Authority, which is the National Company Law Tribunal (NCLT), […]

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What are the ethical considerations in insolvency practice?

In every field, a code of conduct must be followed, including by insolvency practitioners in the domain of insolvency law. The code of conduct for insolvency practitioners is outlined under the Insolvency and Bankruptcy Code, 2016, along with relevant regulations. Ethical considerations in insolvency practice must be adhered to throughout the insolvency process, ensuring fair […]

CONTINUE READING What are the ethical considerations in insolvency practice? 10 min read
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