Search Results for: credit information

An Operational Creditor with an Arbitral Award can proceed as a Decree Holder

The National Company Law Tribunal has paved the way for operational creditors to revive their debt and proceed as decree holder.

IBC Ordinance – A Bargain for both Debtors and Creditors

The rationale of the Ordinance is certainly to ensure that Insolvency and Bankruptcy Code, 2016 lives up to its preamble that is – maximization of value of assets. The newly inserted Section 10A certainly brings about a balance of interest between creditors and debtors.

Financial Creditors can Initiate Insolvency against Personal Guarantors under IBC

The new framework allows Creditors to continue recovery process with Personal Guarantor after completion of the Corporate Insolvency Resolution Process.

Role of Information Utility and NeSL in safeguarding Insolvency Process under the IBC

The NeSL was the first Information Utility service registered under the BBI Regulations, 2017 it is one of the three pillars of the IBC system.

Relief for Creditors: Time taken under SARFAESI to be Excluded for Limitation Act

Order deliverd by NCLAT is a relief for creditors to invoke the jurisdiction of IBC and seek appropriate redressal for their long-awaited grievances against the debtor.

DHFL’s Insolvency: How it will affect the Creditors and Debtors in the Market

The institution of Insolvency proceedings against DHFL will result in Courts to venture out over new dimensions of prospective rights and liabilities of the financial service providers.

Promoters and Shareholders Promoters are not Creditors under IBC

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

Application for initiation of corporate insolvency resolution process by operational creditor (section 9)

In this article we have discussed about how an Operational creditor can file an application for initiation of Corporate Insolvency Process against it debtors.

Insolvency Resolution by Operational Creditor (Section 8)

An operational creditor as defined under s 5(20) of the Insolvency and Bankruptcy Code as a person to whom an operational debt is owed and includes any person to whom such debt has been legally assigned or transferred

Difference between Financial Creditor and Operational Creditor

The Insolvency and Bankruptcy Code (Amendment) bill 2017, describes the Financial Creditor and the Operational Creditor and the ambit of its applicability on creditor-debtor relationship.

Revise Trans-1 by 27th December to ensure bonafide credit claimed

The finance ministry on Tuesday urged businesses to revise any wrongful claim of tax credits from the previous indirect tax regime saying that “extraordinarily high” claims unsettles the trust between firms and the tax authorities. In a statement, the ministry warned that assessees who have erroneously claimed tax credit from the previous regime should correct … Continue reading “Revise Trans-1 by 27th December to ensure bonafide credit claimed”