Category: IBC

Decoding the Insolvency and Bankruptcy Code (Ibc) For Corporate Restructuring in India

INTRODUCTION India’s corporate environment was dramatically altered following the enactment of Insolvency and Bankruptcy Code (IBC) in 2016. This landmark legislation has ushered in a new era of responsibility, efficiency and transparency within the areas of corporate restructuring along with bankruptcy resolution. The IBC is a paradigm shift from the older fragmented and protracted legal … Continue reading Decoding the Insolvency and Bankruptcy Code (Ibc) For Corporate Restructuring in India

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Conundrum of Limitation Period under IBC and Inapplicability of the Doctrine of Election

Recently the Supreme Court in the case of Tottempudi Salalith v State Bank of India & Ors.[1] (Tottempudi Salaith) held that the doctrine of election cannot be applied to prevent a financial creditor to approach the National company law tribunal (NCLT) for initiating a Corporate Insolvency Resolution Process (CIRP) against the corporate debtor under Section … Continue reading Conundrum of Limitation Period under IBC and Inapplicability of the Doctrine of Election

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National Company Law Tribunal’s (NCLT’s) Role in Corporate Restructuring: A Comprehensive Analysis

Introduction Established under the Companies Act of 2013, the National Company Law Tribunal is a quasi-judicial body that renders decisions on issues pertaining to Indian corporations. In accordance with the 2016 Insolvency and Bankruptcy Code, the National Company Law Tribunal is tasked with adjudicating matters corresponding to the insolvency resolution process, corporate reconstruction, and limited … Continue reading National Company Law Tribunal’s (NCLT’s) Role in Corporate Restructuring: A Comprehensive Analysis

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Navigating The Choppy Waters Of India’s Solvency And Bankruptcy Code

Introduction The Insolvency and Bankruptcy Code, 2016 (referred to as IBC or the Code) is India’s bankruptcy law, designed to consolidate the existing framework by creating a comprehensive statute for handling insolvency and bankruptcy cases. The introduction of IBC aimed to completely overhaul India’s financial distress resolution system, as the prevalence of Non-Performing Assets and … Continue reading Navigating The Choppy Waters Of India’s Solvency And Bankruptcy Code

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Proposed Amendments To The Insolvency And Bankruptcy Code

Insolvency and Bankruptcy Code, 2016, as amended (“Code”) regulations claim that countless cases of failing real estate businesses, including significant players like Jaypee Infratech, and Supertech, have been stalled at various stages of insolvency procedures over the past few years. It is being estimated that 344 corporate debtors involved in construction and real estate operations … Continue reading Proposed Amendments To The Insolvency And Bankruptcy Code

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Can passing of a Resolution Plan obliterate proceedings under section 138 of NI Act?

Introduction The Supreme Court of India vide its order dated 28th March, 2022 in Narinder Garg v. Kotak Mahindra Bank Ltd. (“Narinder Garg”) decided upon the effect of the passing of a resolution plan, under section 30(4)  of the Insolvency and Bankruptcy Code, 2016 (“IBC”), on the validity of proceedings under section 138 of the … Continue reading Can passing of a Resolution Plan obliterate proceedings under section 138 of NI Act?

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Status Of Homebuyers Upon The Anvil Of IBC, 2016

Introduction The status of homebuyers upon the anvil of “Insolvency and Bankruptcy Code, 2016” has been watched like a hawk for a while. Burying the lead, the Insolvency and Bankruptcy Code came into picture in 2016. It was put in place to combat a sharp increase in the NPAs. The goal of the code was … Continue reading Status Of Homebuyers Upon The Anvil Of IBC, 2016

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The Relevancy of ‘Waterfall Mechanism’ in 2022 under IBC

INTRODUCTION: The lawmakers designed the Insolvency and Bankruptcy Code, 2016 (‘IBC’) to provide an adequate legal framework for timely resolution of Insolvency and Bankruptcy and recovery. The Preamble of the Code states the purpose for which the said Code is enacted. The Code is ever-evolving through a series of case laws, and the Judiciary interprets … Continue reading The Relevancy of ‘Waterfall Mechanism’ in 2022 under IBC

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