Search Results for: corporate debtors

Importance of debt recovery for Corporates

The secret to any successful business is good customer relations. Don’t allow too much time to pass without notifying your client that credit terms have been broken.

Real Solution for Real Estate Insolvencies

The major challenges in the insolvency resolution of real estate companies arise from the peculiarities of this sector, especially since the divergent interests of the allottees of the real estate projects do not align with the scheme of the CIRP.

Succinct Summary of The Fast Track CIRP under IBC, 2016

The fast-track CIRP is designed to expedite the insolvency process for smaller companies and enable their efficient restructuring or liquidation.

How IBC can be helpful to Start-Up?

The fast track process which can be initiated by a creditor or the corporate debtor itself cuts down the time taken to complete an insolvency resolution to almost half as compared to the regular process under the IBC.

Are the principal amount and the interest levied dependent on each other for the purpose of section 7?

A recently evolved notion of co-relation of Principal amount and interest levied on it, for the purpose of Section 5(8) of the code and its implication in the application filed under Section 7.

Analysis of the Pre-Packaged Insolvency Resolution Process and its advantages as compared to the CIRP

The Pre-Packaged Insolvency Resolution Process (PPIRP) mechanism have helped the MSMEs to a great extent in order to revive their operations as a going concern.

Advantages of pre-Packaged Insolvency Resolution Process (PPIRP)

Advantages of pre-Packaged Insolvency Resolution Process (PPIRP). A series on PPRIP. Read all the blogs to know PPRIP in detail.

Supremacy of Insolvency and Bankruptcy Code

The code has helped the creditors to recover their amount from defunct companies and bring them back to their actual position. IBC was introduced so as to reduce India’s long-standing problem of NPAs.

Power and Duties of Company Liquidator

The Liquidator has a fiduciary responsibility with the Company and its creditors. The major goal of choosing a Liquidator is to resurrect a failing firm and operate professionally.

Section 14 of the I&B Code does not apply to personal guarantors

SBI initiated proceedings against Veesons under the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act), demanding an outstanding amount of approximately INR 61 crores as Veesons did not pay its debts on time.

Outstanding payments to allottees in Real Estate Projects are Financial Debts

The Supreme Court did not agree to the payment of amounts deposited by the promoter to homebuyers on the grounds that it would be preferential payment to one class of creditors.

Supreme Court on constitutional validity of the Insolvency and Bankruptcy Code, 2016

IBC is economic legislation and that when it comes to economic legislation, flexibility should be given to the legislature because no economic law can be fool proof at its inception.

Why Should Homebuyers approach NCLT against defaulting Real Estate Developers/Builders?

whereas legislation like RERA provides for individual remedies against the Builder, the IBC Code gives collective control over the affairs and management of the Corporate Debtor to its financial creditors.

What is PPIRP (Pre-Packaged Insolvency Resolution Process) ?

PPIRP (Pre-packaged Insolvency Resolution Process) is an alternate for normal Insolvency Process. It has been announced for MSME Sector.