Tag: Insolvency

Forum Shopping & Its Prevalence in Cross-Border Insolvency Matters

18th July, 2024 - 6:02 am Categories: News & Updates

INTRODUCTION Forum Shopping is considered as a bad phenomenon or act of the party/parties in the eyes of Private International Law and when it comes to insolvency forum shopping, serious efforts have been put in by the European Union and the US, separately, to counter the use of the same. Recital 4 of the European … Continue reading Forum Shopping & Its Prevalence in Cross-Border Insolvency Matters

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Navigating The Choppy Waters Of India’s Solvency And Bankruptcy Code

28th July, 2023 - 7:23 am Categories: IBC

Introduction The Insolvency and Bankruptcy Code, 2016 (referred to as IBC or the Code) is India’s bankruptcy law, designed to consolidate the existing framework by creating a comprehensive statute for handling insolvency and bankruptcy cases. The introduction of IBC aimed to completely overhaul India’s financial distress resolution system, as the prevalence of Non-Performing Assets and … Continue reading Navigating The Choppy Waters Of India’s Solvency And Bankruptcy Code

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Status Of Homebuyers Upon The Anvil Of IBC, 2016

6th February, 2023 - 7:20 am Categories: IBC

Introduction The status of homebuyers upon the anvil of “Insolvency and Bankruptcy Code, 2016” has been watched like a hawk for a while. Burying the lead, the Insolvency and Bankruptcy Code came into picture in 2016. It was put in place to combat a sharp increase in the NPAs. The goal of the code was … Continue reading Status Of Homebuyers Upon The Anvil Of IBC, 2016

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Introduction of SSFs : A game changer for Indian Insolvency Regime

18th October, 2022 - 6:07 am Categories: News & Updates

INTRODUCTION On January 27, 2022 , Securities and Exchange Board of India (SEBI) released a circular notifying the salient features of SSFs which are a class of AIFs to exclusively deal with distressed asset market with the motive to help the financial institutions release the money stuck in the stressed assets by reducing the load … Continue reading Introduction of SSFs : A game changer for Indian Insolvency Regime

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Insolvency and Bankruptcy Code 2016 | Arbitral Proceedings- The Contrast

26th March, 2022 - 11:03 am Categories: Legal Issues

In the year 2016, Insolvency and Bankruptcy Code was introduced to consolidate all the laws associated with the Insolvency resolution of the corporate personalities with aim to realise the maximum value of assets for such corporate persons in a time-bound manner and to promote entrepreneurship, available of credit and to protect the interest of the … Continue reading Insolvency and Bankruptcy Code 2016 | Arbitral Proceedings- The Contrast

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TATA Consultancy Services Limitedv.Vishal Ghisulal Jain, Resolution Professional, SkWheels Private Limited

2nd March, 2022 - 12:24 pm Categories: Legal Issues

(Supreme Court of India) Civil Appeal No 3045 of 2020 The appeal stemmed from a ruling given on June 24, 2020 by the National Company Law Appellate Tribunal (“NCLAT”). The NCLAT affirmed an interim order issued by the National Company Law Tribunal (“NCLT” or “Adjudicating Authority”) on December 18, 2019, preventing the appellant from terminating … Continue reading TATA Consultancy Services Limitedv.Vishal Ghisulal Jain, Resolution Professional, SkWheels Private Limited

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IBC (Insolvency and Bankruptcy Code, 2016) – The Bankruptcy Law of India

22nd July, 2019 - 12:16 pm Categories: Intellectual Property

It is better to have one codified legislation than multiple to deal with the aspects of a company which can have a singular umbrella. This is the exact rationale for the existence of The Insolvency and Bankruptcy Code in India which has been into effect since 2016. IBC came into being repealing SICA (Sick Industrial … Continue reading IBC (Insolvency and Bankruptcy Code, 2016) – The Bankruptcy Law of India

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Amtek Auto Ltd. Restarts Insolvency Proceedings- Did Liberty House escape the Liability?

22nd July, 2019 - 9:43 am Categories: Legal Issues

IBC encompasses the provision of an early insolvency process, the process for insolvency of a company which can be initiated at the time when an alarm is raised as to the default in repayment of loans by the Company. The provision is a boon to the creditors as they can claim for a resolution for … Continue reading Amtek Auto Ltd. Restarts Insolvency Proceedings- Did Liberty House escape the Liability?

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CORPORATE INSOLVENCY RESOLUTION PROCESS (CIRP) OF JAYPEE INFRATECH: IMPLICATION ON WISHTOWN ; JAYPEE AMAN HOUSING PROJECT – CLAIM SUBMISSION BEFORE AUG 24, 2017

23rd August, 2017 - 12:30 pm Categories: India News & Updates

Introduction On August 9, 2017, the Allahabad Bench of National Company Law Tribunal (“NCLT”) admitted[1] the insolvency application of IDBI Bank against Jaypee Infratech Ltd. under Section 7 of the Insolvency and Bankruptcy Code, 2016[2] (“IBC”). On June 13, 2017, the Reserve Bank of India (“RBI”) issued a press release[3] whereby it identified 12 accounts … Continue reading CORPORATE INSOLVENCY RESOLUTION PROCESS (CIRP) OF JAYPEE INFRATECH: IMPLICATION ON WISHTOWN ; JAYPEE AMAN HOUSING PROJECT – CLAIM SUBMISSION BEFORE AUG 24, 2017

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