Search Results for: Recovery of Debts

Implications of cheque bounce under Insolvency Laws (IBC)

Cheque bouncing is also the default in making payment of debt, and petition under IBC laws may be admitted

Relief for Homebuyers – SBI Capital comes to Rescue Amrapali

A major relief to the homebuyers in the stalled projects of the Amrapali group. The NBCC will play a major part in ensuring the in-time completion of the projects once the adequate financing is promised by SBI CAP and UCO.

Relief for MSMEs in Response to COVID-19, No Fresh Insolvency Proceedings for 1 Year

The Ministry of Corporate Affairs had earlier limited initiation of fresh insolvency proceedings for a period of 6 months which now stands extended to 1 year.

How Operational Creditors can revive their time-barred debt: An analysis of the Mekko Steel Case

There is a certainty that the time-barred debt can be revived even after the lapse of an initial period of limitation which is 3 years.

When Resolution Plan can be challenged by the aggrieved Person

The resolution plan can be challenged by an aggrieved person as per the grounds mentioned in Sub-Section (3) of Section 61 of the Code.

Revival of Construction Project from Insolvency

This article aims to caution and summarize the Corporate Insolvency Resolution Process with respect to buyers seeking revival and completion of Project.

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.

Creditors Recover of INR 3.75 Lakh Crore in 1.6 years at IBC/NCLT Pre- Admission Stage

The recovery rate has increased almost three times i.e. from 26.5% in 2018 to 71.6% in 2019 and the time taken for recovery improved from 4.3 years to 1.6 years within a short span of one year.

How to execute RERA, NCDRC, and Consumer Court Order

The article speaks about the legal remedy or solution as to how an order passed by RERA or consumer court or others fixing any debts and liability can be executed or honored.

How to file claim before IRP upon Insolvency

All the creditors need to file a claim with the IRP regarding their debts under different forms which are provided in the schedule of Insolvency and Bankruptcy Board of India Regulations, 2016.

Delay under IBC not Acceptable

If anyone is looking to recover their debts in a time bound manner or resolution of the corporate debtor in a timely manner then IBC provides the necessary redressal.

Effect of Moratorium on Personal Properties of the Promoter given as Security

Only those properties in the name of the corporate debtor shall come under the purview of the moratorium and not the personal properties in the name of the corporate debtor.

Voluntary Liquidation under Insolvency and Bankruptcy Code, 2016

The voluntary winding up or voluntary liquidation, as the code defines, of the company can take place under section 59 of the IBC.