Your blog category
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 […]
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 […]
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 […]
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 […]
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 […]
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, […]
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), […]
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 […]
Under insolvency law, the Insolvency Bankruptcy Code, 2016, offers two processes for resolving the insolvency of a company or individual: the traditional insolvency procedure and the pre-packaged insolvency resolution process. These processes, while both aimed at resolving financial distress, differ in approach. The traditional insolvency process is a formal court-driven method, typically used for complex […]
One may face ‘insolvency’ when they are unable to pay debts due to a lack of cash flow. It is a situation where the assets of an individual or a corporate entity do not meet its liabilities and have to repay its creditors. An individual or a corporate entity files an insolvency petition to initiate the […]
