0 comments on “Statutory Repositories under regulation 21(2)(c)(ii) of IBBI (Information Utilities) Regulations, 2017-IBBI/IU/025/2019 dt. 07.09.2019”

Statutory Repositories under regulation 21(2)(c)(ii) of IBBI (Information Utilities) Regulations, 2017-IBBI/IU/025/2019 dt. 07.09.2019

CIRCULAR (No. IBBI/IU/025/2019 dated 7th September, 2019) ToNational E-Governance Services LimitedGresham Assurance House4th Floor, Sir P.M. RoadFort, Mumbai- 400001.(By mail to the registered email address of National E-Governance Services Limited and on the website of the IBBI) Dear Madam /…

Advertisements
0 comments on “IBBI Circular No. IBBI/RV/022/2019 dt. 13.08.2019-Valuation under the Insolvency and Bankruptcy Code, 2016: Appointment of Registered Valuer”

IBBI Circular No. IBBI/RV/022/2019 dt. 13.08.2019-Valuation under the Insolvency and Bankruptcy Code, 2016: Appointment of Registered Valuer

Valuation under the Insolvency and Bankruptcy Code, 2016: Appointment of Registered Valuer (IBBI Circular No. IBBI/RV/022/2019 dt. 13.08.2019) (Refer main circular-IBBI Circular No. IBBI/RV/019/2018 dt. 17.10.2018) To All Registered Insolvency Professionals All Recognised Insolvency Professional Entities All Registered Insolvency Professional…

0 comments on “Remedy to file a suit or an application against the corporate debtor after completion of the period of moratorium in accordance with Section 60(6) of the Code”

Remedy to file a suit or an application against the corporate debtor after completion of the period of moratorium in accordance with Section 60(6) of the Code

The cases in which the Adjudicating Authority or Appellate Tribunal could not decide the claim on merit, such claims or issues can be raised before an appropriate forum in terms of Section 60(6) of the Code. The Financial Creditors and the Operational Creditors whose claims have been decided by the Adjudicating Authority or this Appellate Tribunal, such decision being final and is binding on all such Financial Creditors and the Operational Creditors in terms of Section 31 of the Code. Their total claims stand satisfied and, therefore, they cannot avail any remedy under Section 60(6) of the Code. The Financial Creditors in whose favour guarantee were executed as their total claim stands satisfied to the extent of the guarantee, they cannot reagitate such claim from the Principal Borrower.

2 comments on “Analysis of withdrawal of CIRP proceeding pursuant to settlement under Section 12A of the IBC”

Analysis of withdrawal of CIRP proceeding pursuant to settlement under Section 12A of the IBC

Section 12A is inserted by second amendment in IBC on recommendation by  Insolvency Law Committee Report submitted in Mar, 2018 to provide facility to withdraw application made under section 7, 9 or 10 on settlement even if CIRP has been initiated. Before the Section 12A, there was no provision in the Code or the regulations in relation to permissibility of withdrawal post admission of a CIRP application. As discussed above, only rule 8 of the Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016t provide facility to withdraw the application on a request by the applicant before it is admitted by the NCLT.

0 comments on “Analysis of the time limit under Section 12 of the Insolvency and Bankruptcy Code, 2016 for completion of CIRP”

Analysis of the time limit under Section 12 of the Insolvency and Bankruptcy Code, 2016 for completion of CIRP

“Decoding the Code” Analysis on time limit under section 12 of the Code for completion of insolvency resolution process  (Updated up to 25.08.2019) As per the Insolvency and Bankruptcy Code, 2016 (the Code), the procedure involved in the Corporate Insolvency…