All about Interim Resolution Professional
Detailed article about the management of affairs of corporate debtors by IRP and about their authority.
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Who and what is Interim Resolution Professional?
In this article we will elaborately discuss about an Interim resolution professional, his duties, eligibility and other aspects.
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.
Financial Sector Reforms in India
The IBBI and the adjudicating authority are set to play a major role towards the implementation of the new insolvency regime which undoubtedly acts as a catalyst of change and ensures ease of doing business in India.
Government plans to have more NCLT benches
The government plans to have more benches of the National Company Law Tribunal on the basis of case load and rising number of insolvency cases coming up before the NCLT.
14-member panel to be set to button down issues in insolvency law
The government has set up a 14 member panel to button down the increasing issues under insolvency and bankruptcy law. The panel members include Insolvency and Bankruptcy Board of India (IBBI) Chairperson M S Sahoo, RBI Executive Director Sudarshan Sen, former Lok Sabha Speaker T K Viswanathan, Edelweiss Group Chairman and CEO Rashesh Shah, Shardul Amarchand Mangaldas … Continue reading “14-member panel to be set to button down issues in insolvency law”
Now Bank will be able to Start the loan recovery Process before 90 Days
A senior government official said that recent amendments in banking rules will help bank solve the problem of debt deferred soon. According to RBI regulations, if the amount of any loan amount is more than 90 days, then it becomes non-performing.
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