Mondaq India: Insolvency/Bankruptcy/Re-structuring
Singh & Associates
According to the World Bank Report of Doing Business, the insolvency resolution process in India is complex, time consuming and expensive due to presence of multiple laws.
Singh & Associates
Not so long, all the creditors, as well as the debtors were welcoming the move of the legislature in introducing the now most complicated Insolvency and Bankruptcy Code, 2016 but now everybody has realized that the code ...
Singh & Associates
The law is still crystallizing the fact as to which entities can come under the respective categories for initiation of CIRP as mentioned above.
Dhaval Vussonji & Associates
The Insolvency and Bankruptcy Code, 2016 (the "Code") was passed by the Parliament on May 5, 2016 and received the assent of the President of India on May 28, 2016.
Singh & Associates
The Insolvency and Bankruptcy Code, 2016 passed by the Parliament is a welcome overhaul of the existing framework dealing with insolvency of corporate, individuals, partnerships and other entities.
Nishith Desai Associates
The Supreme Court of India ("Supreme Court") in Mobilox Innovations Private Limited ("Mobilox") Vs. Kirusa Software Private Limited ("Kirusa") has finally settled the issue regarding the interpretation of ‘dispute in existence' under the Insolvency and Bankruptcy Code, 2016 ("the Code") providing much relief and clarity to operational debtors who may have a genuine dispute regarding the debt, but may not have yet initiated legal proceedings.
S.S. Rana & Co. Advocates
The objective of the Insolvency and Bankruptcy Code, 2016 (hereinafter referred to as the 'Code') is multi-faceted.
Vaish Associates Advocates
The NCLT in the matter of Synergies- Dooray Automotive Limited and in the matter of Ms. Mamta Binani vs. Edelweiss Asset Reconstruction Company Limited and Others approved...
Phoenix Legal
Valuation of assets is one of the core features of the corporate insolvency resolution process under the Insolvency and Bankruptcy Code, 2016.
Khaitan & Co
The Hon'ble Supreme Court allowed the appeal of Mobilox Innovations Private Ltd. (Mobilox) against the judgment of the National Company Law Appellate Tribunal (NCLAT) dated 24 May 2017.
Nishith Desai Associates
The present ruling arises in a writ petition filed by directors of a corporate debtor challenging an order of a DRT. In terms of the order challenged, DRT permitted proceedings against the directors...
Trilegal
Insolvency proceedings of Jaypee Infratech Limited is one of the most keenly watched proceedings under the IBC. Apart from the introduction of a new class of creditors, the proceedings have also seen...
Singh & Associates
The Honorable National Company Law Appellate Tribunal on July 31, 201726 ruled that mere clause of arbitration in an agreement cannot be termed to be an existence of dispute...
Singh & Associates
In the case of State Bank of India v. Essar Steel India Ltd., C.P (I.B) No. 40/7/NCLT/AHM/2017, the National Company Law Tribunal, Ahmedabad Bench has interpreted Section 7(5)(a) of the Insolvency and Bankruptcy Code...
Singh & Associates
Black Law defines Moratorium as "Delay in performing an obligation or taking an action legally authorized or simply agreed to be temporary".
Singh & Associates
The much debated I&B Code, 2016 was enacted by the Government to correct the mounting burden of debts on business and corporate houses and to improve the NPA status of banks.
Singh & Associates
The Insolvency & Bankruptcy Code, 2016 (hereinafter referred to as "The Code") was ushered in with much fervor and enthusiasm as an elixir possessing a cure to all infirmities plaguing...
Singh & Associates
Under section 433(e) of the Companies Act, 1956 and under Section 271(1)(a) of the unamended Companies Act, 2013 a company could be wound up if it was "unable to pay its debts".
Singh & Associates
Before we dwell further on the topic of this article, it is imperative to take note of the relevant provisions of the Insolvency and Bankruptcy Code, 2016 (the "Code") that remain bone of contention.
Dhir & Dhir Associates
The recently introduced legal, regulatory and policy changes that have been introduced in the Indian BFSI sector have not only geared up the pace at which the sector is operating but has also created...
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Dhaval Vussonji & Associates
The Insolvency and Bankruptcy Code, 2016 (IBC) has consolidated and amended the laws relating to reorganization and insolvency of corporate persons, partnership firms and individual firms.
Nishith Desai Associates
In a move to protect the interest of home buyers, the Supreme Court ("Court") has recently passed an interim order directing Jaiprakash Associates Limited ("JAL")...
Khaitan & Co
The Hon'ble Supreme Court allowed the appeal of Mobilox Innovations Private Ltd. (Mobilox) against the judgment of the National Company Law Appellate Tribunal (NCLAT) dated 24 May 2017.
Phoenix Legal
Valuation of assets is one of the core features of the corporate insolvency resolution process under the Insolvency and Bankruptcy Code, 2016.
Singh & Associates
In the case of State Bank of India v. Essar Steel India Ltd., C.P (I.B) No. 40/7/NCLT/AHM/2017, the National Company Law Tribunal, Ahmedabad Bench has interpreted Section 7(5)(a) of the Insolvency and Bankruptcy Code...
Nishith Desai Associates
The present ruling arises in a writ petition filed by directors of a corporate debtor challenging an order of a DRT. In terms of the order challenged, DRT permitted proceedings against the directors...
Singh & Associates
The Honorable National Company Law Appellate Tribunal on July 31, 201726 ruled that mere clause of arbitration in an agreement cannot be termed to be an existence of dispute...
Singh & Associates
Insolvency and Bankruptcy Code 2016 (I & B Code 2016) was published in the Gazette of India on 28th May 2016.
S.S. Rana & Co. Advocates
The objective of the Insolvency and Bankruptcy Code, 2016 (hereinafter referred to as the 'Code') is multi-faceted.
Trilegal
Insolvency proceedings of Jaypee Infratech Limited is one of the most keenly watched proceedings under the IBC. Apart from the introduction of a new class of creditors, the proceedings have also seen...
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