0 comments on “Insolvency and Bankruptcy (Insolvency and Liquidation Proceedings of Financial Service Providers and Application to Adjudicating Authority) Rules, 2019”

Insolvency and Bankruptcy (Insolvency and Liquidation Proceedings of Financial Service Providers and Application to Adjudicating Authority) Rules, 2019

Insolvency and Bankruptcy Code, 2016 Insolvency and Bankruptcy (Insolvency and Liquidation Proceedings of Financial Service Providers and Application to Adjudicating Authority) Rules, 2019 Rule: 1. Short title and commencement. Rule: 1. Short title and commencement. (1) These rules may be…

0 comments on “Insolvency and Bankruptcy (Application to Adjudicating Authority for Bankruptcy Process for Personal Guarantors to Corporate Debtors) Rules, 2019”

Insolvency and Bankruptcy (Application to Adjudicating Authority for Bankruptcy Process for Personal Guarantors to Corporate Debtors) Rules, 2019

Insolvency and Bankruptcy Code, 2016 Insolvency and Bankruptcy (Application to Adjudicating Authority for Bankruptcy Process for Personal Guarantors to Corporate Debtors) Rules, 2019 Rule: 1. Short title and commencement. Rule: 1.Short title and commencement. (1) These rules may be called…

0 comments on “Insolvency and Bankruptcy (Application to Adjudicating Authority for Insolvency Resolution Process for Personal Guarantors to Corporate Debtors) Rules, 2019”

Insolvency and Bankruptcy (Application to Adjudicating Authority for Insolvency Resolution Process for Personal Guarantors to Corporate Debtors) Rules, 2019

Insolvency and Bankruptcy Code, 2016 Insolvency and Bankruptcy (Application to Adjudicating Authority for Insolvency Resolution Process for Personal Guarantors to Corporate Debtors) Rules, 2019 Rule: 1. Short title and commencement. Rule: 1.Short title and commencement. (1) These rules may be…

0 comments on “Compliance with the provisions of Section 12 of the Insolvency and Bankruptcy Code, 2016-IBBI”

Compliance with the provisions of Section 12 of the Insolvency and Bankruptcy Code, 2016-IBBI

Compliance with the provisions of Section 12 of the Insolvency and Bankruptcy Code, 2016 (IBBI: CIRP-13011/1/2019-IBBI dated 11.11.2019) The Insolvency and Bankruptcy Code, 2016 (Code), in its long title, states that it is an Act for reorganisation and insolvency resolution…

0 comments on “If parallel insolvency proceedings has been initiated against the Corporate Debtor, the respective authority of other country has also right to participate in the meeting of CoC & joint CIRP will continue in accordance with IBC – Jet Airways (India) Ltd Vs. State Bank of India & Anr – NCLAT”

If parallel insolvency proceedings has been initiated against the Corporate Debtor, the respective authority of other country has also right to participate in the meeting of CoC & joint CIRP will continue in accordance with IBC – Jet Airways (India) Ltd Vs. State Bank of India & Anr – NCLAT

NCLAT held that it clear that the CoC have no role to play as the agreement reached between the ‘Dutch Administrator’ and the Resolution Professional of India is on the basis of the direction of this Appellate Tribunal. In spite of the same, unfortunately the CoC interfered with the matter and put its view to the Resolution Professional resulting into difference of the suggestions. ‘The Dutch Trustee’ is equivalent to the Resolution Professional of India, therefore, as per law he has a right to attend the meeting of the CoC. However, as we do not want to overlap the power between one and other, we are of the view that the suggestion given by the ‘Dutch Trustee’ (Administrator) as shown in its ‘Clause 6.1.2’ should be part of the Agreement – ‘Cross Border Insolvency Protocol’.

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