What is PPIRP (Pre-Packaged Insolvency Resolution Process) ?
PPIRP (Pre-packaged Insolvency Resolution Process) is an alternate for normal Insolvency Process. It has been announced for MSME Sector.
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NCLT has jurisdiction over contractual disputes that arises solely on account of Insolvency
The NCLT and the National Company Law Appellate Tribunal (NCLAT) have to ensure that they do not usurp the legitimate jurisdiction of other courts, tribunals and for when the dispute is one which does not arise solely from or relate to the insolvency of the Corporate Debtor.
SECTION-8 OF RERA Vs. REVERSE INSOLVENCY
Many Homebuyers are confused between RERA and Reverse Insolvency, and it’s hard to decide which one is better. So here we are explaining the concept of RERA vs Reverse Insolvency.
Group Insolvency- The Future of Successful Resolution under IBC
It is advisable to the creditors to make a plea of initiating Group Insolvency while filing an application for initiation of CIRP against a corporate debtor.
How to Choose Best Legal Firm for Joint Insolvency Petition By Homebuyers
Homebuyers while filing the joint petition before NCLT under IBC laws, should chose the legal firm very carefully.
How to choose your Interim Resolution Professional (IRP) for Insolvency Process
an Insolvency Professional having all the aforementioned requirements may be chosen as An IRP for the corporate debtor. However it may have an advantage over other IRP if the person had already dealt in that specific industry being an RP/IRP.
Covid-19 Impact on the Insolvency Bankruptcy Code
In response to the damage done to the economy the Indian Government has placed certain embargoes and granted certain grace periods to help reduce the financial strain caused by the complete shutdown of the economy this includes the three month moratorium that has been given by the RBI regarding payments of EMI.
Economic Survey: Insolvency and Bankruptcy Code dramatically reduced time for resolution of Stressed Assets
Laws relating to IBC that caused inadequate and ineffective results with undue delays has proven its success by a dramatic reduction for resolution of stressed assets at an average of 340 days as compared 4.3 years in the era before the IBC as per the most Economic Survey.
New IBC Amendments in work likely to benefit creditors in cases of Cross Border Insolvency
The IBBI has disclosed that work is in progress to amend the IBC to make it compliant with cross border insolvency processes.
Insolvency does not bar Criminal Action- Madras HC
There is a reaffirmation that the moratorium granted by the Court does not cover pending criminal litigation.
Sole proprietary Firm Cannot Initiate Insolvency
Initiation of the Corporate Insolvency Resolution Process can be done in the name of the Individual who is the owner of a Sole Proprietorship.
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.
Are Builders more threaten by NCLT proceedings than RERA?
A growing number of Builders, Developers, Promoters and stakeholders in the Real Estate Industry are backing RERA to be the first applicable redressal mechanism to homebuyers.
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