Section 53 of the Insolvency and Bankruptcy Code, 2016 (“IBC”) provides for the order of priority in which the proceeds from the sale of liquidation assets is to be distributed. The Section includes workmen due and the amounts payable to
Insolvency and Bankruptcy Board of India (“IBBI”) vide Gazette Notification dated November 20, 2019, notified the Insolvency and Bankruptcy Board of India (Insolvency Process for Personal Guarantors to Corporate Debtors) Regulations, 2019, inter-alia, providing below compliance: Appointment of resolution profession
Insolvency and Bankruptcy Board of India (“IBBI”) vide Gazette Notification dated November 20, 2019, notified the Insolvency and Bankruptcy Board of India (Bankruptcy Process for Personal Guarantors to Corporate Debtors) Regulations, 2019, inter-alia, providing below compliance: Appointment of insolvency professional
The Insolvency Bankruptcy Code (Second Amendment) Bill, 2018 was introduced in the Parliament on July 23, 2018 to amend the Insolvency and Bankruptcy Code, 2016 and replace the Insolvency and Bankruptcy (Amendment) Ordinance, 2018 that was released on June 6,
Background Under the Insolvency and Bankruptcy Code 2016 (the Code), there has been an ambiguity with respect to applicability of the Limitation Act, 1963 (the Limitation Act). This has been deliberated upon in several judgments of the National Company Law
Introduction In case of any disputes between the parties, there are probabilities that parties might compromise and settle the matter during the pendency of the case before the Court. In this blog, we analyse the situation where the application has
Under the Insolvency and Bankruptcy Code, 2016 (the Code), a financial creditor can initiate a Corporate Insolvency Resolution Process (CIRP) by filing an application before the jurisdictional National Company Law Tribunal (the NCLT) upon the occurrence of a default in
The Ministry of Consumer Affairs, Food and Public Distribution vide its order dated 23rd June, 2017 brought in amendments to the Legal Metrology (Packaged Commodities) Rules, 2011 in the backdrop of e-marketplaces causing new and complex consumer protection issues regarding
The Insolvency and Bankruptcy Board of India (IBBI) vide its circular dated 3 January 2018 has directed that the Insolvency Professional shall not outsource any of his duties and responsibilities to a third party and shall not require any certificate
In terms of Insolvency and Bankruptcy Code, 2016, a financial creditor have to submit financial information and information relating to assets in relation to which any security interest has been created, to an information utility (IU) in the manner as
MINISTRY OF CORPORATE AFFAIRS (MCA) CLARIFICATION ON DEFINITION OF “JOINT VENTURE” FOR THE PURPOSE OF EXEMPTION FROM APPOINTMENT OF INDEPENDENT DIRECTORS BY CERTAIN UNLISTED PUBLIC COMPANIES The MCA vide its notification dated 5 July 2017 had inserted Rule 4(2) and
Background The Insolvency and Bankruptcy Code, 2016 (Code) was notified effective 28 May 2016 with an aim amongst many others, to complete insolvency resolution process in time bound manner, to revive the entity and to ensure/safeguard the value of creditors
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