Mondaq All Regions - India: Insolvency/Bankruptcy/Re-structuring
King, Stubb & Kasiva
In case of cash flow insolvency the company is unable to pay debt as it falls due and in balance sheet insolvency the total liability exceeds its realisable assets.
S.S. Rana & Co. Advocates
The Bank on September 3, 2018 filed an application to recover USD 52.5 million from Ruchi Soya Industries Limited.
S.S. Rana & Co. Advocates
The stricter provision of the IBC and their effective enforcement have made it an active vehicle in order to resolve the problem of bad loans.
S.S. Rana & Co. Advocates
As per the provisions of the IBC, an insolvency resolution professional appointed to conduct the corporate insolvency resolution process.
L&L Partners
About 30 million tonnes of steel is lying under bankruptcy proceedings in India, and is waiting to be taken over by new management under the Insolvency and Bankruptcy Code, 2016 (IBC).
S.S. Rana & Co. Advocates
The best practices in business require the establishment faith of fulfilment of obligations by the transacting parties.
LexCounsel Law Offices
The Reserve Bank of India ("RBI") has time and again, in its directions, reports and Master Circulars, reiterated that banks should not indulge in ever-greening of its loans.
VGC Law Firm
In order to prevent unscrupulous promoters from buying back the corporate debtor at low discounted prices, Section 29A was incorporated in the Insolvency and Bankruptcy Code with retrospective effect ...
Khaitan & Co
On 11 October 2018, the Supreme Court vide its judgment in B.K. Educational Services Private Limited v Parag Gupta and Associates (Civil Appeal No. 23988 of 2017) clarified the applicability of Limitation Act, 1963 ...
Khaitan & Co
The Amendment Regulations have come into force on 5 October 2018.
AMLEGALS
This judgment has come at a time when Tayo Rolls' application for ‘closure of business units' is currently pending before the Jharkhand High Court.
IndusLaw
Earlier this month, the Supreme Court of India (the "SC") passed a much-awaited judgment concerning the eligibility of resolution applicants for Essar Steel India Limited.
Dhaval Vussonji & Associates
The Insolvency and Bankruptcy Code Code, 2018 which came into effect on 6th June, 2018 provides for various amendments to the Insolvency and Bankruptcy Code, 2016.
Clarus Law Associates
On 11.10.2018, a division bench of the Hon'ble Supreme Court of India comprising of Justice R.F. Nariman and Justice Navin Sinha in the matter of B.K. Educational Services Private Limited v Parag Gupta And Associates, ...
Dhaval Vussonji & Associates
The Insolvency and Bankruptcy Board of India has recently amended the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016, ...
Nishith Desai Associates
In this article, we explore the rights of a special class of creditors, i.e. holders of bonds and their ability to initiate corporate insolvency resolution process under IBC in light of "no action clauses" and issues arising thereof.
S.S. Rana & Co. Advocates
In the market of changing scenarios, the companies are faced by numerous challenges on the business front.
AMLEGALS
This time the Corporate Debtor replied with objections and raised a new dispute that the project was left incomplete by the Petitioner.
S.S. Rana & Co. Advocates
The insolvency professional, who is the choice of the highest number of creditors in the class, is appointed as the authorised representative of the creditors of the respective class.
S.S. Rana & Co. Advocates
The Insolvency and Bankruptcy Code, 2016,1 provides that only in cases where no disciplinary proceedings are pending against the insolvency professional that he/ she may be appointed as interim resolution professional, ...
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Dhaval Vussonji & Associates
The Insolvency and Bankruptcy Code, 2016 (IBC) has consolidated and amended the laws relating to reorganization and insolvency of corporate persons, partnership firms and individual firms.
Dhir & Dhir Associates
The moratorium in terms of Insolvency and Bankruptcy Code, 2016 (‘IBC') means a period wherein no judicial proceedings for recovery, enforcement of security interest, sale or transfer of assets, or termination of essential contracts can be instituted or continued against the Corporate Debtor.
AMLEGALS
The amount of any liability in respect of any of the guarantee or indemnity for any of the items referred to in sub-clauses (a) to (h) of this clause.
Clarus Law Associates
On 11.10.2018, a division bench of the Hon'ble Supreme Court of India comprising of Justice R.F. Nariman and Justice Navin Sinha in the matter of B.K. Educational Services Private Limited v Parag Gupta And Associates, ...
Trilegal
The Insolvency and Bankruptcy Code (Amendment) Ordinance, 2018 brings about significant changes to improve the insolvency resolution framework in India.
Fair & Just Legal Solutions LLP
The Insolvency and Bankruptcy Code, 2016 ("IBC") is one of the biggest economic reforms in the Indian history.
Singh & Associates
Under the Insolvency and Bankruptcy Code, 2016, for operational creditors to initiate a corporate insolvency resolution process, two steps are required to be followed.
Singh & Associates
Insolvency and Bankruptcy Code, 2016 is enacted to consolidate and amend laws pertaining to insolvency and resolution. Part Ii of the Code deals with the Insolvency Resolution and Liquidation for ‘Corporate persons'.
IndusLaw
Earlier this month, the Supreme Court of India (the "SC") passed a much-awaited judgment concerning the eligibility of resolution applicants for Essar Steel India Limited.
Dhaval Vussonji & Associates
The Insolvency and Bankruptcy Board of India has recently amended the Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016, ...
Fair & Just Legal Solutions LLP
The NCLT, Mumbai, accepted the application of Nisus and passed the order for commencement of insolvency resolution process.
S.S. Rana & Co. Advocates
The amendments to the IBC have made an attempt to ensure that only viable resolution plans from credible sources are accepted.
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