In this article we will elaborately discuss about an Interim resolution professional, his duties, eligibility and other aspects.
Cheers to NCLT’s efforts for effectively complying with IBC and be able to resolve eigth high profile insolvancy cases within a year.
Once NCLT has issued moratorium under section 14 of Insolvency Code in respect of Company in liquidation, Bank cannot pursue proceedings for recovery of loan.
A article on how to rectify defects if any in the application for initiation of Corporate Insolvency Resolution Process along with case laws.
This article is about the further actions to be taken by the Operational creditor after serving a demand notice on Operational debtor.
Demand notice means a notice served by an operational creditor to the corporate debtor demanding repayment of the operational debt in respect of which the default has occurred.
The Supreme Court of India in Mobilox Innovations Private Limited v Kirusa Software Private Limited has finally settled the widely debated question of what constitutes “existence of a dispute”.
The judgement of the Supreme Court, in the case of Innoventive Industries vs ICICI Bank is a shot in the arm for the regime established under the Insolvency and Bankruptcy Code, 2016
Steps that can be initiated by corporate creditors against their debtors in case of default and when the debtor refuses to accept the notice and come to a settlement.
The IBBI and the adjudicating authority are set to play a major role towards the implementation of the new insolvency regime which undoubtedly acts as a catalyst of change and ensures ease of doing business in India.