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Key aspects of UNCITRAL (United Nations Commission on International Trade Law) plays a crucial role in international insolvency law through its Model Law on Cross-Border Insolvency, which was approved by the United Nations General Assembly through a resolution in 1997. The Model Law allows for nations to alter, exclude, or include certain provisions in addition […]
The main aim of the  Insolvency and Bankruptcy Code, 2016 (IBC) is to resolve the financial issues of the corporate debtor in a time-bound manner. Section 61 of the IBC provides the statutory right to appeal against the order of the Adjudicating Authority. Under this section, the Limitation in filing appeal under the IBC can […]
In the insolvency framework, good faith in insolvency is represented by the actions of the parties involved in the resolution process. For instance, under the Insolvency and Bankruptcy Code, 2016 (IBC) a creditor has to disclose all relevant information about their debt when filing a claim, an insolvency professional must act impartially, and a debtor […]
Insolvency and restructuring procedures involves financial considerations in addition to the legal proceedings and costs. But environmental sustainability require more than just financial backing as it affects general public as well. Environmental claims are proceesed under the corporate insolvency resolution process, but they are difficult to be part of insolvency proceedings as they are unliquidited […]
The Insolvency and Bankruptcy Code, 2016 (IBC) was enacted to consolidate and amend the laws relating to the reorganisation and insolvency resolution of corporate debtors in a time-bound manner for the maximisation of the value of assets of such debtors. Its primary function is to provide a solution to companies in financial distress. However, the […]
Insolvency leads to insolvency proceedings under the Insolvency and Bankruptcy, Code, 2016, and legal action is taken against the insolvent person or entity. For the insolvency and the healthcare sectorcauses many issues other than financial and legal challenges. Knowing about insolvency allows stakeholders to identify early warning signs, implement restructuring strategies, and protect patient access […]
An individual or a partnership firm is bankrupt when it is unable to meet its financial obligations and has insufficient assets to cover its debt. The corporate debtor initiates the bankruptcy procedure by filing a petition with the Adjudicating Authority, the National Company Law Tribunal (NCLT). The NCLT will assess and value the debtor’s assets, […]
The Hon’ble Supreme Court in Vishal Chelani and others v. Debashish Nanda held that Homebuyers under RERA and IBC cannot be treated differently from other financial creditors under the Insolvency and Bankruptcy Code, 2016 (IBC) merely because they have obtained orders from the authorities under the real estate laws in India. The insolvency framework under […]
The platform of a robust business environment is having effective corporate governance. Since its establishment, Role of IBC in Corporate Governance Insolvency and Bankruptcy Code, 2016 (IBC)Â has had a significant impact on reviving, restructuring, or rehabilitating companies in financial distress. In addition to this, it has emerged as a vital instrument in advanced corporate […]
The insolvency process is designed to streamline the insolvency and liquidation proceedings in a time-bound manner. The resolution professional utilise forensic audit to ensure the insolvency or liquidation proceedings are fair and transparency, identifying any transactions by the corporate debtor that may affect the recovery of its creditors. What is a Forensic Audit? A forensic […]
