How to execute RERA, NCDRC, and Consumer Court Order
The article speaks about the legal remedy or solution as to how an order passed by RERA or consumer court or others fixing any debts and liability can be executed or honored.
Search Results for: CIRP under the IBC
Invocation of guarantee during Moratorium
As per section 14 of the IBC 2016 and in the judgments it has been determined that during the moratorium period the invocation of guarantee against the ‘Company under Insolvency Proceedings/ CIRP.
Check if you need to file a claim for company facing insolvency process
In order to avoid rejection of the claims, the filing of claim should be done by an expert person having knowledge of Insolvency laws.
How to file claim before IRP upon Insolvency
All the creditors need to file a claim with the IRP regarding their debts under different forms which are provided in the schedule of Insolvency and Bankruptcy Board of India Regulations, 2016.
Homebuyers can file claim against HDIL
Corporate Insolvency Resolution Process initiated against Housing Development and Infrastructure Limited. Claims have been invited by the IRP from the creditors of the Company.
How to file claim as financial Creditor before IRP/RP
A financial creditor(s) may file an application for initiating CIRP u/s 7 of IBC against a corporate debtor when a default has occurred.
Corpus or Interim funds arranged by the COC cannot be attached by any authority
After observing the current situation of the corporate debtor no creditor is willing to infuse more funds as they are afraid of losing the same through the enforcement of any law or authority under law.
Execution of RERA Orders
The execution of the orders is still a far fetched process as the RERA has failed to implement the execution mechanism under the RERA.
Insolvency Application viz-a-viz Ongoing Arbitration Proceedings
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
Exemption from the strict adherence to the timeline of 270 days of the Insolvency and Bankruptcy Code, 2016
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.
Liabilities of the directors or Promoters or partners during or before the Insolvency Resolution Process
The powers of the management of controlling the assets of the Corporate Debtor or Company is transferred to the Resolution Professional or the liquidator as the case may be.
Supreme Court protect interests of Homebuyers in Jaiprakash Infratech Limited case
Home buyers who had invested in housing projects by JIL, were permitted by the Interim Resolution Professional (IRP) to submit their claims as ‘other creditors’, subordinate to financial and operational creditors of JIL.
President approves Insolvency & Bankruptcy Code (Amendment) Ordinance, 2018
A big relief to homebuyers and promoters and now they can be an equal part of the CoC, as the President also has given his assent to the Ordinance effecting amendments in insolvency code.
Insolvency Resolution Process of Corporate Person by Financial Creditor
Initiation process of Insolvency Resolution by a financial creditor in the easiest possible manner along with the time line that is required to be followed.
What is Moratorium and public announcement?
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.
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