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Insolvency and Bankruptcy Code, 2016 incorporates personal insolvency processes for resolving the financial distress of individual debtors in a structured and time-bound resolution. The most common form of personal insolvency under IBC is bankruptcy, however this is not ideal for any individual as debtors are working towards reviving, restructuring, or rehabilitating themselves. Understanding Personal Insolvency […]
The offences and penalties are listed under Chapter VII of the Insolvency and Bankruptcy Code, 2016. The inclusion of offences and penalties in the Code are important for preventing fraud, misconduct, and ensuring that there is strict adherence to the Insolvency and Bankruptcy Code, 2016. Offences and Penalties under IBC committed by the officer of […]
The National Company Law Tribunal (NCLT) and the National Company Law Appellate Tribunal (NCLAT) are governed by the Companies Act, 2013, the Insolvency and Bankruptcy Code, 2016, and the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016. Both are pivotal in insolvency resolution and the liquidation process of corporate […]
To have a better understanding of cross-border insolvency law, it is important to compare the insolvency laws of other countries with those of India and examine current legislation on cross-border insolvency. International insolvency laws affect local practices, especially for financially distressed companies with assets outside India’s jurisdiction, as the current IBC and relevant regulations provide […]
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