The shareholders and promoters are not the creditors and thereby the resolution plan cannot balance the maximization of the value of assets of the corporate debtor

The homebuyers can file a petition against the builder or developer to commence Corporate Insolvency Process or not.

Homebuyers to file the claim under IBC rather than adopting a way which is not legally realistic wherein the insolvency orders are passed against the builder’s company.

Homebuyers who have been assured of committed returns from the developer could trigger IBC as a financial creditor under section 7 whereas all the homebuyers have been granted the right to represent themselves as a participant of the committee of creditors.

NCLT under Insolvency and Bankruptcy code, 2016, has seen many twists and turns which has led to various amendments in the law.

Earlier the winding up of the company was initiated and conducted under the Companies Act, 1956 while the same has got annulled after the advent of Insolvency and Bankruptcy Code.

An application under section 7 filed by the Operational Creditor is barred due to pending Arbitration Proceedings as the on-going arbitration proceedings signifies the pre-existence of dispute

The Corporate Insolvency Resolution Process has to be completed in 180 days along with the provision of 90 days of extension or maximum allowed time is 270 days.

The Limitation Act will be applied upon any application or petition or claim or appeal is filed before the adjudicating authority or tribunal i.e. NCLT or NCLAT.

operational creditors are those creditors where liabilities arise from transactions on operations.

There are various kinds of audit being conducted under different laws such as company audit/statutory audit conducted under company law provisions, cost audit, stock audit etc.

The Public Provident Fund (PPF) is one of the tax-free saving scheme. This saving scheme is famous amongst the investors who do not want to take risk.

Export made whether on account of supplies of goods or services, have been categorised as “Zero Rated Supplies” in the IGST Act.

The government made numerous improvements in taxation which are applicable from 1st April 2018.

Income tax act 1961 provides for heavy fees and penalties in case of tax evasion.