Rishika Kumar

Solvent Companies under the Insolvency and Bankruptcy Code: Unwrapping the Conundrum – By Amir Bavani, Rishika Kumar and Hritik Shekhar Srivastava, AB Legal Team

What exactly does it mean for a company to be solvent, and how does the Insolvency and Bankruptcy Code affect its operations? As we explore these questions, we’ll uncover essential insights and debunk common misconceptions. Throughout this article, we’ll shed light on how solvent companies cannot be admitted under CIRP.

Solvent Companies under the Insolvency and Bankruptcy Code: Unwrapping the Conundrum – By Amir Bavani, Rishika Kumar and Hritik Shekhar Srivastava, AB Legal Team Read Post »

Scope of Mediation in Insolvency Proceedings – Bespoke approach for the complete Code – By Amir Bavani, Rishika Kumar and Anirban Aly Mandal

In this article: (i) advent of mediation as a Dispute Resolution Mechanism in India, (ii) the framework of mediation under the Code as suggested by the Expert Committee, and (iii) dissect the framework as considered and discussed under the Report[3] in light of the groundbreaking Mediation Act, 2023. 

Scope of Mediation in Insolvency Proceedings – Bespoke approach for the complete Code – By Amir Bavani, Rishika Kumar and Anirban Aly Mandal Read Post »

Determining the Date of Default under Section 9 of IBC – The usual Conundrum – By Amir Bavani, Rishika Kumar and Pragati Prajapati, AB Legal

There are very peculiar issues still subsisting in the IBC, as it is fairly new Code having prolonged teething problems, of which one of the major issues that is usually encountered while filing an application under Section 9 of the IBC, is determining the date of default.

The present article ponders upon the determination of the suitable date of default under Section 9 Application of the Code, for the commencement of an insolvency proceeding. This article also analyses which invoice date should be taken into consideration in case of multiple invoices? It is necessary to determine which invoice date, amongst all, shall be used as the date of default.

Determining the Date of Default under Section 9 of IBC – The usual Conundrum – By Amir Bavani, Rishika Kumar and Pragati Prajapati, AB Legal Read Post »

Critical Analysis of the Mandatory Issuance of Notices under Rule 8 and Rule 9 of the Security Interest (Enforcement) Rules, 2002 – Amir Bavani, Rishika Kumar and Amisha Shree, AB Legal

The Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (‘SARFAESI Act’) provides for methods that can be undertaken by a secured creditor to recover its dues in case of a default. The main provision under the SARFAESI Act is Section 13 relating to ‘Enforcement of Security Interest’ describing the manner, timelines and procedures within which the secured creditors can enforce their rights to recover their dues against a NPA.

Critical Analysis of the Mandatory Issuance of Notices under Rule 8 and Rule 9 of the Security Interest (Enforcement) Rules, 2002 – Amir Bavani, Rishika Kumar and Amisha Shree, AB Legal Read Post »

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