In this article, the author draws a parallel between the Insolvency and Bankruptcy Code, 2016 (IBC) and the Admiralty (Jurisdiction and Settlement of Maritime Claims) Act, 2017 (the Admiralty Act).
Sinking Ship: IBC vis-à-vis Admiralty Act – By Adv. Prasad Warkar Read Post »
A comprehensive analysis of withdrawal of CIRP application under Section 12A of IBC at various stage with judicial pronouncements.
The focus of this article is to compare the “Indian Scenario vis-à-vis Global Scenario” relating to commercial wisdom of Committee of Creditors during the resolution process of a distressed company and whether the judiciary is required to interfere with the commercial decisions of the Committee of Creditors during or after the completion of process or not.
The NCLT, NCLAT & Supreme Court have time & again stressed upon the ‘supremacy’ of the commercial wisdom of the Committee of Creditors. However, on numerous occasions, the courts have been tempted to decide on their scope of interference with the commercial decisions of the CoC.
This article aims to provide valuable insights for individuals and organizations operating in the rapidly evolving cryptocurrency field. Its goal is to bring clarity to the intricacies of insolvency in the crypto world and assist in informed decision-making within this dynamic and exciting landscape.
Crypto Assets and Insolvency – By Alokita Tangri and Akshat Sinha Read Post »
The entry of major ARCs in the resolution process is likely to improve the response of the resolution scenario, as these entities are well-equipped with the requisite knowledge and expertise to manage and turn around non-performing assets. However, it is crucial to note that the effectiveness of this move will depend on the policies that each ARC decides to finalize, especially with respect to their respective sectoral exposure limits. In essence, the success of allowing ARCs as resolution applicants will hinge on the specific policies and procedures that they put in place, particularly with regards to their sectoral focus and how much exposure they are willing to take on in a particular sector. These policies will play a critical role in determining the level of competition, speed, and effectiveness of the resolution process.
Section 17 to Section 20 of the Insolvency and Bankruptcy Code, 2016 (Code) is to run the Corporate Debtor as a going concern. But none of it exactly discuss about the practical aspects that are required to be followed during the Corporate Insolvency Resolution Process (CIRP). Here are some of the Immediate actions that are required to be taken by the Interim Resolution Professional (IRP) after their appointment to run the Corporate Debtor as a going concern.
Another major cause of insolvency in EPC companies is the slowdown in infrastructure development. This has led to a decline in demand for EPC services and a decrease in revenue for companies. The lack of funding is also a major factor contributing to the insolvency of EPC companies in India. Many companies are unable to secure funding from banks and other financial institutions due to their poor financial health.
Insolvency of EPC Companies – By Nidhi Baid Read Post »
Cross-Border Insolvency with reference to the ‘Centre of Main Interest’ – Authored by: Archit BhadaniGraduate Insolvency Programme at the Indian
The statutory dues which would otherwise falls under clause (e) of Section 53(1) will now be on the same plane with other specified debts including debts on account of workman’s dues for a period of 24 months preceding the liquidation commencement date, as the debts owed to a secured creditor include the State under the GVAT Act. However, this will invite the state of dubiety and will be Greek to the Resolution Professionals if not been interceded by the Legislature by way of an amendment keeping in mind the intent of the Insolvency and Bankruptcy Code, 2016.
There is no excerpt because this is a protected post.
Protected: The Real Picture behind the Data – CA. Om Nemani, Pursuing GIP, IICA Read Post »
