IBC Laws -

Adjudicating Authority by adopting a process of taking two bids cannot conclude the sale of a Corporate Debtor without giving an opportunity to Liquidator to take steps for private sale – State Bank of India Vs. Bhuvee Stenovate Pvt. Ltd. & Ors. – NCLAT New Delhi

Posted by IBC Laws Editoron January 27, 2023January 26, 2023in IBC-Case Laws-NCLAT, Newsletter-IBC Case

In case you've already logged in, click here to know why you're not able to access this content.

NCLT directs Successful Resolution Applicant to make necessary payments under the provisions of EPF and MP Act, 1952 after the approval of Resolution Plan – Employees Provident Fund Organisation Vs. Sh. Darshan Singh Anand The IRP – NCLT Chandigarh Bench

Posted by IBC Laws Editoron January 27, 2023January 26, 2023in IBC-Case Laws-NCLT, Newsletter-IBC Case

In case you've already logged in, click here to know why you're not able to access this content.

Once the resolution plan stands approved by the NCLT, all claims stand frozen, and no claim, which is not a part of the resolution plan, survives – Aircel Cellular Ltd. Vs. Union of India – Madras High Court

Posted by IBC Laws Editoron January 27, 2023January 26, 2023in IBC-Case Laws-High Courts, Newsletter-IBC Case

In case you've already logged in, click here to know why you're not able to access this content.

RBI releases Discussion Paper on Securitisation of Stressed Assets Framework (SSAF) through the Special Purpose Entity (SPE) route

Posted by IBC Laws Editoron January 26, 2023January 26, 2023in IBC News

Currently there is no corresponding mechanism for securitisation of non-performing assets (NPAs) through the SPE route. The SARFAESI Act, 2002 does provide for securitisation of NPAs but such securitisations have to be undertaken by Asset Reconstruction Companies (ARCs) licensed under the Act, in terms of the specifically laid down statutory/regulatory norms. Based on market feedback and stakeholder consultations, it was decided to enable securitisation of NPAs through the SPE route, on the lines of securitisation of standard assets. Read here about new mechanism for securitisation of non-performing assets (NPAs) through the SPE route

Siraj Ali Patel Suspended Director, Swiss Entertainment Pvt. Ltd. Vs. Epigram – NCLAT New Delhi

Posted by IBC Laws Editoron January 25, 2023January 26, 2023in IBC-Case Laws-NCLAT

In case you've already logged in, click here to know why you're not able to access this content.

Mohinish Kumar Vs. Premsons Super Steels Pvt. Ltd. – NCLAT New Delhi

Posted by IBC Laws Editoron January 25, 2023January 26, 2023in IBC-Case Laws-NCLAT

In case you've already logged in, click here to know why you're not able to access this content.

Vishwanatha Sridhar Prabhu Vs. Union of India Case Summary – By Akhila Bolla

Posted by IBC Lawson January 25, 2023January 25, 2023in Articles, Case Synopsis

High Court in this case has granted Interim relief for Pending the hearing and final disposal of the present Writ Petition, stay the operation and effect of the Order passed on February 28, 2022 passed by the IBBI for suspending the registration of Mr. Vishwanath Shridhara Prabhu as a registered valuer till he is acquitted of the charges.

When an advocate appears in other capacities (Liquidator), he shall not wear the robes of an advocate – Super Agri Seeds Pvt. Ltd. – NCLT Hyderabad Bench

Posted by IBC Laws Editoron January 25, 2023January 25, 2023in IBC-Case Laws-NCLT, Newsletter-IBC Case

In case you've already logged in, click here to know why you're not able to access this content.

Benefit under Section 10A of IBC can be claimed by a Corporate Debtor only when there is clear default during the prohibited period – Vishal Agarwal Erstwhile Director of Gagan I-Land Township Pvt. Ltd. Vs. ICICI Prudential Real Estate AIF-I & Anr. – NCLAT New Delhi

Posted by IBC Laws Editoron January 25, 2023January 24, 2023in IBC-Case Laws-NCLAT, Newsletter-IBC Case

In case you've already logged in, click here to know why you're not able to access this content.

Legal Representatives (LRs) including widow of deceased Promoter/Director of Corporate Debtor should be impleaded as a party in application under Section 43, 45, 50 & 66 of the IBC for avoidance of transactions – Arvind Garg Liquidator of Carnation Auto India Pvt. Ltd. Vs. Jagdish Khattar & Ors. – NCLAT New Delhi

Posted by IBC Laws Editoron January 25, 2023January 25, 2023in IBC-Case Laws-NCLAT, Newsletter-IBC Case

In case you've already logged in, click here to know why you're not able to access this content.

Chapter	Topic	Content
CH-2: General & Definitions
		Short Note on Insolvency and Bankruptcy Code, 2016 (IBC, 2016)
		Dispute and Existence of a Dispute
		Operational Debt and Operational Creditor
		Persons who may initiate Corporate Insolvency Resolution Process(CIRP)
		Analysis provisions of Limitation Act, 1963 with respect to Insolvency and Bankruptcy Code, 2016
CH-3: CIRP
	Topic-1 : CIRP Application & Withdrawal
		Analysis of Minimum amount of default under Section 4 of IBC
		Procedure of filing application by Financial Creditor before NCLT under Section 7 of the IBC
		Procedure of filing application by Operational Creditor before NCLT under Section 8 & 9 of the IBC
		Initiation of CIRP by corporate applicant under Section 10 of the IBC
		Analysis of withdrawal of CIRP proceeding pursuant to settlement under Section 12A of Insolvency and Bankruptcy Code, 2016 (IBC)
	Topic-2 : Declaration of moratorium and public announcement
		Declaration of moratorium and public announcement [Section 13, 14 & 15 of the IBC]
		All about the Moratorium under Section 14 of the Insolvency and Bankruptcy Code, 2016 including judicial pronouncements
	Topic-3 : Appointment and tenure of IRP & RP
		Appointment and tenure of Interim Resolution Professional and Resolution Professional [Section 16, 22 & 27 of the IBC]
		Role of an Interim Resolution Professional and Resolution Professional
	Topic-4 : Management of affairs by IRP
	Topic-5 : Receive and collate all the claims submitted by creditors
	Topic-6 : Committee of creditors and meetings
		Constitution of Committee of Creditors under Section 21 of IBC
		Role of Committee of Creditors & It’s Commercial Wisdom
		Analysis of provisions on Authorised Representative under IBC
		Meetings & Voting of the Committee of Creditors under Section 24 of the IBC
	Topic-7 : RP to conduct the CIRP and manage the operations
		Resolution Professional to conduct the CIRP and manage the operations of the Corporate Debtor
		Insolvency Resolution Process Costs & Essential supplies
		To identify preferential transactions under Sec. 43 of the Code in any CIRP, step to be taken by a Resolution Professional
	Topic-8 : CIRP and Resolution Plan
		Information Memorandum, Expression of Interest, Request for Resolution Plans & Resolution Plans
		Role of the prospective resolution applicant
		Persons not eligible to be Resolution Applicant [Sec. 29A of IBC]
		Submission and approval of the Resolution Plan
		Liability for prior offences under Section 32A of the IBC
CH-4 : Liquidation Process
	Topic-1 : Initiation of Liquidation
	Topic-2 : Appointment & Remuneration of Liquidator
		Appointment & Remuneration of Liquidator under Sec. 34 of IBC
		Powers and duties of Liquidator under Sec. 35, 37 of IBC
	Topic-3: Liquidation Estate
	Topic-4: Public announcement, Preliminary report, Early dissolution and Progress reports under Liquidation
	Topic-5: Claims under Liquidation
	Topic-6: Preferential, undervalued and Extortionate Credit Transactions
		Preferential, Undervalued and Extortionate Credit Transactions under Sec. 43, 44, 45, 46, 47, 48, 49, 50, 51 of IBC
		To identify preferential transactions under Sec. 43 of the Code in any CIRP, step to be taken by a Resolution Professional
	Topic-7: Secured Creditor in Liquidation Proceedings
	Topic-8: Realisation of Assets in Liquidation Proceedings
	Topic-9: Proceeds of Liquidation and Distribution of Proceeds
CH-5 : Personal Guarantor
		Chapter VIII Indemnity and Guarantee of Indian Contract Act, 1872
		All about Personal Guarantor under IBC Part-I
		All about Personal Guarantor under IBC Part-II
		Insolvency Resolution Process Regulation
		Bankruptcy Process for PG Regulation
		IRP Application to AA Rules
		Bankruptcy Process Application to AA Rules