RBI’s February 12 bankruptcy circular has been challenged by PSU Bankers’ union
Reserve Bank of India’s (RBI’s) controversial February 12 circular that bankruptcy proceedings will kick in 180 days.
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One homebuyer alone can proceed against the builder to Bankruptcy Court
President Ram Nath Kovind has given his nod to promulgate an ordinance amending the insolvency law, recognising homebuyers as financial creditors to real estate developers.
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 and Bankruptcy Code, 2.0 can be expected to be introduced soon
The ministry of corporate affairs is readying what many believe to be IBC 2.0. The ordinance recommended by the Union Cabinet on Wednesday was part of the plan.
Homebuyers get a relief under the Insolvency and Bankruptcy Code, 2016
Homebuyer is a person who buys or expects to buy a house. And A promoter is an individual or organization that helps raise money for some type of investment activity.
Insolvency & Bankruptcy Code, 2016- Background
The old and archaic provisions to deal with sickness arising out of financial difficulties have been replaced by Insolvency and Bankruptcy Code, 2016.
Overall scheme of the Insolvency and Bankruptcy Code
An Insolvency and Bankruptcy Board of India (IBBI) will be established. This Board (IBBI) will oversee the work of Insolvency and Bankruptcy of corporate persons, firms and individuals.
Essar Steel- What led to the landmark case under Insolvency and Bankruptcy Laws?
Amongst the 11 high profile case under the purview of Insolvency Code, Essar Steel has attracted a lot of attention.
Gemini’s bankruptcy petition stands rejected before NCLT
The National Company Law Tribunal has dismissed an insolvency application filed by Gemini Innovations, raising doubts over the “unnatural” facts listed by the company in its filing
Financial Creditor & Operational Creditor within the scope of Insolvency & Bankruptcy Code (Amendment) Bill, 2017
The IBC has introduced new and distinct concepts of ‘Financial Creditor’ and ‘Operational Creditor’ as opposed to the Companies Act, 2013 which merely introduced the term ‘creditor’, without any classification thereof.
Insolvency Bankruptcy Amendment Bill- Then and Now
A detailed article about the previous Insolvency and Bankruptcy law and changes that have been improvised post amendment bill in 2017.
Proceed to NCLT for recovery of dues under Insolvency & Bankruptcy Code
To initiate recovery procedure one can approach the National Company Law Tribunal which exercises the power to dispose cases under Insolvency Code.
Robust Insolvency Bankruptcy Laws to deal with bad Loans
The latest amendment bill of Insolvency & Bankruptcy, 2017 has been passed by the Lok Sabha to deal with recovery and reorganization in a speedy, reliable process.
Bankruptcy Code to get substantive amendments in budget
The government is likely to make substantive amendments in upcoming budget into Insolvency and Bankruptcy Code (IBC).
IBBI Chairman in no mood to review amendments in Bankruptcy Rules
The Insolvency and Bankruptcy Board of India (IBBI) appears to be in no mood to review amendments made in the bankruptcy code.
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