Author Archive for: vishesh
Entries by Vinod Kothari Consultants
Insolvency and Bankruptcy Code (Second Amendment) Bill, 2019 Quick review of Proposed Amendments
Megha Mittal (resolution@vinodkothari.com) Amidst the lingering need to fill in certain critical gaps to ensure streamlining of corporate insolvency resolution process (“CIRP”), the Cabinet on 10.12.2019 approved the Insolvency and Bankruptcy (Second Amendment) Bill, 2019 (“Amendment Bill”)[1] further to amend the Insolvency and Bankruptcy Code, 2016 (“Code”), which is now pending approval by the Houses. […]
Ablution by Resolution
The Insolvency and Bankruptcy Code (Second Amendment) Bill, 2019 seeks to wash out liability of corporate debtors resolved under IBC -Sikha Bansal (resolution@vinodkothari.com) Resolution under the Insolvency and Bankruptcy Code, 2016 (‘Code’) is a harbinger of fresh start of the corporate debtor, which passes into the control of a new management by the very […]
WHETHER LANDLORD IS AN OPERATIONAL CREDITOR UNDER IBC?
Richa Saraf (resolution@vinodkothari.com) For an amount to be classified as an operational debt, a sort of filtration process is provided under the Insolvency and Bankruptcy Code. Firstly, the amount should fall under the ambit of “claim” as defined under Section 3(6) of the Code. Secondly, such a claim should fall within the confines of the […]
MPC meeting – New type of PPI and more
finserv@vinodkothari.com The Statement on Developmental and Regulatory Policies[1] dated 05 December, 2019 has been issued by the RBI pursuant to the fifth bi-monthly Monetary Policy Committee meeting. Some quick updates and highlights of regulatory changes are given below – 1) Review of NBFC-P2P Directions- Aggregate Lender Limit and escrow accounts Current limit for borrowers and […]