Mondaq All Regions - 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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Trilegal
The Insolvency and Bankruptcy Code passed by the Parliament is a welcome overhaul of the existing framework dealing with insolvency of corporates, individuals, partnerships and other entities.
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.
Cyril Amarchand Mangaldas
On August 31st 2017, the Supreme Court of India in the case of Innoventive Industries Limited v. ICICI Bank Limited delivered its first extensive ruling on the operation and functioning of 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...
Dhir & Dhir Associates
The 9th of August, 2017 came as a nightmare to innumerable homebuyers as the National Company Law Tribunal (‘NCLT') admitted insolvency proceedings against one of India's biggest real estate developers, Jaypee Infratech Ltd. on a petition filed by IDBI Bank.
Khaitan & Co
In its first detailed ruling on some of the substantive legal questions under the Insolvency and Bankruptcy Code, 2016 (Code), the Hon'ble Supreme Court (Apex Court) has delivered a landmark order...
Nishith Desai Associates
The National Company Law Tribunal ("NCLT") admits the S.7i application against Essar Steel, moratorium on legal proceedings declared...
Singh & Associates
How easy it was to hire an advocate, who used to draft a simple reminder known as Legal Notice/Demand Notice in a legal language and the same was served on the Debtor.
Nishith Desai Associates
Recently, the Supreme Court of India ("Supreme Court") in M/s. Innoventive Industries Ltd ("Innoventive") v. ICICI Bank & Anr ("Respondents") has passed their first ruling on the newly enacted Insolvency and Bankruptcy Code, 2016 ("Code").
Khaitan & Co
Pursuant to notification of the provisions relating to insolvency resolution and liquidation process under the Insolvency and Bankruptcy Code, 2016, several applications have been made to the NCLT...
Singh & Associates
The aim and object of the Insolvency and Bankruptcy Code, 2016 is reorganization and insolvency resolution in a time bound manner for the maximization of value of assets of such persons to promote entrepreneurship...
Chandhiok & Associates
With effect from December 2016, the corporate insolvency resolution provisions of the Insolvency and Bankruptcy Code, 2016 were notified.
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