Search Results for: insolvency law

CROSS-BORDER INSOLVENCY DISPUTES

The UNCITRAL Model Law has been strongly recommended for providing a wide-ranging solution for resolving cross-border insolvency issues.

Wages/salaries of only those employees who worked during the Corporate Insolvency Resolution Process are to be included in CIRP costs, rules SC

The claims filed/to be submitted by the workers of the appellant must be decided upon and taken into consideration by the Liquidator even if RP has not submitted the claims towards the wages/salaries as part of CIRP costs.

Role of Mediation in the Insolvency Process

Specifically in insolvency proceedings, mediation as a tool can be employed to resolve issues and clear the bottleneck in the resolution process which had led to delays.

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.

Cheque Bouncing Versus Insolvency– Whether proceedings under Section 138 and 141 of N.I. Act, 1881 can be initiated against Corporate Debtor during Moratorium period?

The institution or continuation of a proceeding of dishonour of cheque against company under the provisions of Negotiable Instruments Act, 1888 fall within the ambit of moratorium provision of the IBC.

Structure of Pre-packaged Insolvency Resolution Process

A brief information of how a PPRIRP works in the real sense, making the resolution of Micro, small and medium scale enterprises not just speedy but also smooth.

Unregistered Partnership Firm Cannot Initiate Insolvency Proceedings Under IBC: NCLT Kochi

The Bangalore Sales Corporation v Sark Spice Products Pvt. Ltd., the National Company Law Tribunal (“NCLT”), Kochi Bench, comprised of Shri. P. Mohan Raj (Judicial Member) and Shri. Satya Ranjan Prasad (Technical Member), held that an unregistered Partnership Firm cannot institute insolvency proceedings under IBC.

Rights of Homebuyers under the Insolvency and Bankruptcy Code

Homebuyers could only engage in the IBC procedure as a class of financial creditor. Individual homebuyer rights were absorbed by homebuyer rights as a class.

Insolvency and bankruptcy code, 2016- A game changer

For India’s distressed debt, the Insolvency and Bankruptcy Code 2016 (IBC) was a game-changing change. It developed a tool to revitalize struggling distressed debtors, heralding a shift from previous resolution and recovery methods.

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.

Insolvency Process Versus Liquidation

Confused between the Insolvency Process & Liquidation? The procedure and differences between Insolvency Process and Liquidation is explained.

Pre-packaged Insolvency Resolution Process

the Insolvency Law Committee in 2020 constituted a sub-committee to study Pre-packaged Insolvency Resolution Process (PPIRP). On the basis of this subcommittee’s recommendations, the Insolvency and Bankruptcy Code was amended on 4/4/2021 through an ordinance to bring effect to this change.

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.

6 Steps of Corporate Insolvency Process

CIRP is a process to determine the capability of repayment of the defaulted corporate. For this purpose, IRPs are appointed. They evaluate the assets and liabilities to determine the capability of repayment.

Treatment of MSME Insolvency under IBC

The COVID-19 crisis has caused distress and failure in the MSME sector. The insolvency law since its enactment in 2016 has been amended several times in order to protect the interest of MSMEs as well as the future and growth of the Country.