Want to know more
Enter the details and we'll call you soon

Name :

Company Name :

City :

Mobile No. :

Email id :

  

Thank you for your details



Our Executive will reach you shortly.

Your Session Will Expire in   seconds.
If you do not wish to log-out, choose 'Let me continue'
Reset SessionCancel Session
 
Commentaries
Updated upto June, 2018
35 Records
    • Go To Page
    • of 1
1 . DECLINING STAGE OF AN ORGANISATION
1.1 Background
1.2 Overall scheme of the Insolvency and Bankruptcy Code
1.3 Meaning of 'person'
1.4 Insolvency Code has overriding effect
1.5 Provisions in Companies Act, 2013 relating to winding up are applicable to the extent not contrary to Insolvency Code
1.6 Insolvency and Bankruptcy Board of India (IBBI)
1.7 Adjudicating Authority (AA) and Appellate Authorities
1.8 Information Utility (IU)
1.9 Insolvency and Bankruptcy Fund
1.10 Winding up provisions under Companies Act revamped
1.11 Transitory provisions for shifting from winding up proceedings to Insolvency
1.12 Lenders may apply under SARFAESI and DRT and in addition they can go for Insolvency resolution
1.13 Transitory provisions as SICA repealed
1.14 Income tax provisions for corporate debtors - Relief from MAT
1.15 Special Provisions relating to Corporate Debtors in MSME sector
2 . INSOLVENCY PROFESSIONAL
2.1 Background
2.2 Insolvency Professional Agency (IPA)
2.3 Insolvency Professional (IP)
2.4 Panel of Insolvency Professionals to recommend to NCLT as Interim Resolution Professional or Liquidator
2.5 Insolvency Professional Entities
3 . INSOLVENCY RESOLUTION AND LIQUIDATION OF CORPORATE PERSONS
3.1 Background
3.2 Initiation of corporate insolvency resolution process
3.3 Who can initiate insolvency resolution process
3.4 Initiation of proceedings by financial creditor
3.5 Insolvency proceedings can be initiated against corporate guarantor or personal guarantors
3.6 Initiation of Insolvency resolution by operational creditor
3.7 Initiation of insolvency resolution process by corporate applicant himself
3.8 Appointment of Interim Resolution Professional
3.9 Further procedure before NCLT
3.10 Withdrawal of application after admission with approval of 90% voting by CoC
4 . CONDUCTING CORPORATE INSOLVENCY RESOLUTION PROCESS
4.1 Background
4.2 Moratorium and public announcement
4.3 Public announcement of corporate insolvency resolution process
4.4 Appointment and tenure of interim resolution professional
4.5 Submission of proof of claims to interim resolution professional
4.6 Committee of Creditors (CoC)
4.7 Appointment of resolution professional in first meeting of CoC
4.8 Meeting of committee of creditors
4.9 Duties of resolution professional
4.10 Prior approval of committee of creditors for certain actions by resolution professional
4.11 Preparation of information memorandum
4.12 Protection to insolvency resolution professional in respect of earlier transactions
5 . RESOLUTION PLAN BY RESOLUTION APPLICANT
5.1 Background
5.2 Ineligible Resolution Applicant
5.3 Invitation of resolution plan
5.4 Submission of resolution plan by resolution applicant to insolvency professional
5.5 Insolvency resolution process costs
5.6 Approval of resolution plan by Committee of Creditors
5.7 Submission of plan to Adjudicating Authority
5.8 Assistance of district administration in implementing the resolution plan
5.9 Effect if resolution plan rejected by NCLT
5.10 Appeal against order of adjudicating authority
6 . FAST TRACK CORPORATE INSOLVENCY RESOLUTION PROCESS
6.1 Speedy process for insolvency resolution
6.2 Application for fast track process
6.3 Procedure for fast track process
7 . LIQUIDATION OF CORPORATE PERSON
7.1 Initiation of Liquidation
7.2 Appointment of Liquidator and his fees
7.3 Powers and duties of Liquidator
7.4 Liquidation Estate
7.5 Realization of security interest by secured creditor
7.6 Distribution of unsold assets
7.7 Liabilities of contributory in liquidation
8 . ADMISSION AND PROOF OF CLAIMS BY LIQUIDATOR
8.1 Liquidator has powers to access information
8.2 Ascertaining claims against corporate debtor
8.3 Avoidance of preferential transactions by liquidator
8.4 Avoidance of undervalued transactions
8.5 Action if corporate debtor had defraud creditors
8.6 Protection to corporate debtor against extortionate credit transactions
8.7 Position of secured creditor in liquidation proceedings
9 . REALISATION AND DISTRIBUTION OF ASSETS BY LIQUIDATOR
9.1 Realisation of assets by Liquidator
9.2 Mode of sale
9.3 All money to be paid into bank account except petty cash
9.4 Distribution of assets
9.5 Distribution of cash to stakeholders
9.6 Completion of liquidation within two years
9.7 Final report by Liquidator prior to dissolution
9.8 Unclaimed proceeds of liquidation or undistributed assets to be transferred to Public Account of India
9.9 Dissolution of corporate debtor
10 . DISTRIBUTION OF PROCEEDS OF SALE OF ASSETS AFTER LIQUIDATION
10.1 Insolvency Code is not complete in respect of distribution of sale proceeds
10.2 Money held in trust has priority over all dues
10.3 Statutory dues under other laws
10.4 Workmen's portion of Workmen's dues previous for two years have overriding priority
10.5 Provisions relating to secured creditors
10.6 Priority of tax dues in winding up over secured creditors
10.7 Preferential Payments under Companies Act
10.8 Distribution of surplus amount members
11 . VOLUNTARY LIQUIDATION OF COMPANIES
11.1 Voluntary liquidation by corporates with no default
11.2 Procedure for Voluntary Liquidation
11.3 Notification to Registrar after resolution
11.4 Application to NCLT after assets wound up
11.5 Procedure for voluntary liquidation
11.6 Claim by various creditors Proof of claim
11.7 Realisation of Assets
11.8 Completion of liquidation
12 . ADJUDICATION AND APPEALS FOR CORPORATE PERSONS
12.1 Adjudicating Authority in relation to insolvency resolution and liquidation for corporate persons
12.2 Appeals and Appellate Authority
12.3 Appeal to Supreme Court on question of law
12.4 Civil court not to have jurisdiction where NCLT or IBBI has jurisdiction
12.5 Expeditious disposal of applications
12.6 Penalty for Fraudulent or malicious initiation of proceedings
12.7 Penalty of carrying on business fraudulently to defraud traders
13 . CROSS BORDER INSOLVENCY AND BANKRUPTCY
13.1 Enabling provisions for cross border transactions
13.2 Agreements with foreign countries
13.3 Letter of request to a country outside India in respect of assets
14 . OFFENCES AND PENALTIES IN RELATION TO CORPORATE INSOLVENCY
14.1 Punishments for offences
14.2 Punishment for concealment or property
14.3 Punishment for transactions defrauding creditors
14.4 Punishment for misconduct in course of corporate insolvency resolution process
14.5 Offences by insolvency professional
14.6 Punishment for falsification of books of corporate debtor
14.7 Punishment for wilful and material omissions from statements relating to affairs of corporate debtor
14.8 Punishment for false representations to creditors
14.9 Punishment for contravention of moratorium or the resolution plan
14.10 Punishment for false information furnished in application
14.11 Punishment for non-disclosure of (a) dispute or (b) payment of debt by operational creditor
14.12 Punishment for providing false information in application made by corporate debtor
14.13 Residual punishment of fine for violation of provisions of Insolvency Code
15 . BANKRUPTCY FOR INDIVIDUALS AND PARTNERSHIP FIRMS
15.1 Background
15.2 Adjudicating Authority
15.3 Civil court not to have jurisdiction
15.4 Appeal against order of DRT
15.5 Appeal to Supreme Court
15.6 Provisions not in force
16 . FRESH START PROCESS
16.1 Introduction
16.2 Interim moratorium
16.3 Procedure after receipt of application
16.4 Objections by creditor
16.5 Discharge order
17 . INSOLVENCY RESOLUTION OF INDIVIDUAL AND FIRM
17.1 What is insolvency resolution
17.2 Creditor can initiate insolvency resolution process
17.3 Interim moratorium
17.4 Admission or rejection of application by Adjudicating Authority
17.5 Moratorium if application is admitted by Adjudicating Authority
17.6 Registering of claims by creditors after public notice
17.7 Repayment plan by debtor in consultation with resolution professional
17.8 Summoning of meeting of creditors
17.9 Rights of secured creditors in relation to repayment plan
17.10 Approval of repayment plan by creditors by more than 75% voting
17.11 Order of Adjudicating Authority on repayment plan
17.12 Report of Completion of repayment plan
17.13 Discharge order
18 . BANKRUPTCY ORDER FOR INDIVIDUALS AND FIRMS
18.1 Bankruptcy if insolvency resolution process fails
18.2 Interim moratorium as soon as application is filed
18.3 Bankruptcy order by Adjudicating Authority
18.4 Statement of financial position by bankrupt
18.5 Settlement of claims of creditors
18.6 Administration and distribution of estate of bankrupt
18.7 Discharge order
18.8 Modification or recall of bankruptcy order
18.9 Disqualification of bankrupt from bankruptcy com-mencement date till he is discharged
19 . BANKRUPTCY TRUSTEE
19.1 Standard of conduct of bankruptcy trustee
19.2 Release of bankruptcy trustee
19.3 Administration and distribution of estate of bankrupt by bankruptcy trustee
19.4 Approval of creditors for certain acts to be done by bankruptcy trustee
19.5 Estate of bankrupt
19.6 Onerous property of bankrupt can be disowned
19.7 Challenge against disclaimed property
19.8 Undervalued transactions
19.9 Preference transactions
19.10 Extortionate credit transactions
19.11 Proceedings continue even if bankrupt dies
20 . SETTLEMENT OF CLAIMS AGAINST BANKRUPT
20.1 Proof of debt
20.2 Distribution of interim dividend
20.3 Distribution of property among creditors
20.4 Final dividend
20.5 Claims of creditors who had not proved their debt
20.6 Priority of payment of debts
21 . COMPROMISES, ARRANGEMENTS AND AMALGAMATIONS
21.1 Background
21.2 Application to NCLT
21.3 Sections 230 to 240 is complete code of 'single window clearance'
21.4 Merger and Amalgamation
21.5 Procedure to be followed
21.6 Simplified fast track procedure in case of small companies or holding/subsidiary companies
21.7 Cross border mergers
21.8 Takeover of another company by purchasing 100% of shares
21.9 Takeover through route of compromise and arrangement presently not available
21.10 Compulsory offer to purchase of minority shareholding if acquirer already holds 90% or more equity shares
21.11 Power to Central Government to order compulsory amalgamation
22 . REGISTERED VALUERS
22.1 Background
22.2 Qualifications and eligibility and registration as valuer
22.3 Methods of valuation
22.4 Liability of valuer is as 'expert'
23 . REMOVAL OF NAME OF COMPANIES FROM REGISTER OF MEMBERS
23.1 Removal of name - short cut to winding up
23.2 Striking off name of a company
23.3 Company may itself request for removal of its name from register of companies
23.4 NCLT can issue winding up order even if name of struck off the register
23.5 Restrictions in applying for removal of name
23.6 Effect if company is dissolved by removing name from register
23.7 Effect if company carries on business even after name is struck off the register
23.8 Fraudulent application for removal of name
23.9 Appeal before NCLT against removal of name of company
23.10 When NCLT can restore name of company
23.11 Restoration of name of company if application made within 20 years
24 . WINDING UP OF COMPANY UNDER COMPANY LAW
24.1 Winding up of company
24.2 Mode of ending existence of company
24.3 Circumstances when NCLT can order winding up
24.4 Just and equitable to order winding up
24.5 No winding up under 'just and equitable' clause if alternate remedy is available
24.6 Winding up application can be made even if there is provision for arbitration
24.7 No winding up if company declared a 'relief undertaking'
24.8 Winding up order cannot be refused only because assets are mortgaged or company has no assets
25 . APPLICATION FOR WINDING UP
25.1 Persons who can apply for winding up
25.2 Winding up petition by Contributory
25.3 Procedure after filing of application
25.4 Admission of winding up petition and issue of advertise-ment
25.5 Power of NCLT to pass interim orders
26 . WINDING UP ORDER AND ITS EFFECTS
26.1 Orders that can be passed by NCLT after receiving petition for winding up
26.2 Winding up order is notice of discharge of officers and employees
26.3 Winding Up Committee
26.4 Winding up order operates in favour of all creditors and contributories
26.5 Suits and legal proceedings are stayed
26.6 Can Criminal proceedings by or against company continue
26.7 Extending period of limitation when company is petitioner, when stay is operative
26.8 Custody of property with NCLT after winding up order
26.9 Continuance of certain liabilities/rights after winding up
26.10 When NCLT may grant leave to continue with proceedings in other Court
26.11 Which proceedings can continue without leave of NCLT
26.12 Criminal proceedings can continue
27 . COMPANY LIQUIDATOR, HIS APPOINTMENT AND DUTIES
27.1 Appointment of company liquidator
27.2 Official Liquidators
27.3 Duties and liabilities of Company Liquidator
27.4 Working of Company Liquidator under supervision of NCLT
27.5 Removal and replacement of Company Liquidator
27.6 Procedure after appointment of Company Liquidator
27.7 Powers and duties of Company Liquidator
27.8 Company Liquidator to exercise certain powers subject to sanction
27.9 Accounts by Company Liquidator and its audit
27.10 Person aggrieved by decision of Company Liquidator can apply to NCLT
28 . PROCEDURE AFTER WINDING UP ORDER
28.1 Jurisdiction of NCLT after passing of winding up order
28.2 Submission of report by Company Liquidator
28.3 Directions by NCLT after receiving report of Company Liquidator
28.4 Custody of company's properties after order of winding up
28.5 Help of Magistrate in taking possession
28.6 Promoters, directors, officers to co-operate with Company Liquidator
28.7 Settlement of list of contributory and application of assets
28.8 Liabilities of directors and managers of company in winding up
28.9 Advisory Committee to advise Company Liquidator
28.10 Meeting of creditors or contributories or Advisory Committee
28.11 Powers of NCLT during winding up
28.12 Power of NCLT to order examination of persons, in case of fraud
28.13 Arrest of person trying to leave India or abscond
28.14 Dissolution of company after completion of winding up
29 . SUMMARY PROCEDURE FOR WINDING UP
29.1 Simplified procedure for small companies
29.2 Report by Official Liquidator
29.3 Sale of assets and recovery of debts due to company
29.4 Appeal by creditor to Central Government against deci-sion of Official Liquidator
30 . PENAL PROVISIONS IN WINDING UP
30.1 Preferential payments
30.2 Transfers not made in good faith are void against liquidator
30.3 Transfer of property to trust for benefit of creditors void
30.4 Liabilities and rights of fraudulently preferred person
30.5 Floating charge on assets created within 12 months prior to commencement of winding up
30.6 Disclaimer of onerous property
30.7 Transfer of shares, property, actionable claim etc. after winding up is void
30.8 Attachments or execution and sale of property without leave of NCLT void
30.9 Offences by officers of the company in liquidation
30.10 Penalty for fraud by officers
30.11 Liability for not maintaining proper accounts
30.12 Fraudulent conduct of business
30.13 Damages against delinquent directors etc.
30.14 Time limit for making application for damages
30.15 Liability of partners or directors when offender under section 339 or 340 is company or firm
30.16 Prosecution of delinquent persons
31 . OTHER PROVISIONS RELATING TO WINDING UP
31.1 Inspection of books and papers by creditors and contributories
31.2 Books and papers of company to be evidence
31.3 Money received to be deposited with RBI by Official Liquidator
31.4 Separate bank account if money payable to creditor or contributor remains unpaid for six months
31.5 Where affidavit can be sworn
31.6 Date of commencement of winding up
31.7 Period of limitation remains suspected from date of commencement of winding up in favour of company
31.8 Winding of unregistered and foreign companies
32 . NCLT AND NCLAT
32.1 Background
32.2 Constitution of Tribunal (NCLT)
32.3 National Company Law Appellate Tribunal
32.4 Provisions common to NCLT and NCLAT
32.5 Procedural aspects of NCLT and NCLAT
32.6 Appeal to Supreme Court against order of NCLAT
33 . RECOVERY OF DEBTS DUE TO BANKS AND FINANCIAL INSTITUTIONS
33.1 Background of DRT
33.2 Debt Recovery Tribunal
33.3 General provisions relating to DRT and DRAT
33.4 Procedure at Debt Recovery Tribunal
33.5 Appeal against order of DRT
33.6 Further appeals after order of DRAT
33.7 Decree of foreign court should be executed through DRT only
33.8 Recovery Powers after issue of certificate
34 . SARFAESI ACT
34.1 Overview
34.2 Enforcement of Security Interest
34.3 How to enforce security interest
34.4 How the secured creditor can exercise his right
34.5 Other related provisions
34.6 Procedure for sale of asset
34.7 Takeover of management of defaulting borrower
34.8 Application, Appeals and Penalty
34.9 Securitisation
34.10 Asset Reconstruction Companies
34.11 Acquiring financial assets by ARC from Bank/FI
34.12 Central Registry under SARFAESI Act
34.13 Asset Reconstruction
35 . RBI GUIDELINES ON RESOLUTION OF STRESSED ASSETS
35.1 Background
35.2 Prudential Norms for restructuring
35.3 Principles on classification of sale and lease back transactions as restructuring
35.4 Prudential Norms relating to Refinancing of Exposures to Borrowers in different currency
35.5 Regulatory Exemptions
35.6 Cases of frauds/wilful defaulters