Bankruptcy Code – Vinod Kothari Consultants

Group Insolvency: Moving from “Entity” to “Enterprise”

November 9, 2019/0 Comments/in Insolvency and Bankruptcy Code /by Staff Publication

-Sikha Bansal (resolution@vinodkothari.com) Recently, the Working Group led by Shri U.K. Sinha, submitted its Report on group insolvency, recommending a complete framework to facilitate insolvency resolution and liquidation of corporate debtors in a “group”. The Report was submitted by the working group on 23.09.2019. See our presentation here on various aspects of group insolvency proceedings as suggested […]

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Case Update: SC extended the CIRP by exercising Article 142 of the Constitution

-Priya Udita (resolution@vinodkothari.com) The Supreme Court (SC) in the case of Jaiprakash Associate Ltd. & Anr. v. IDBI Bank Ltd. & Anr. dealt with 2 issues. Firstly, whether the National Company Law Tribunal (NCLT) or National Company Law Appellate Tribunal (NCLAT) can exclude any period from the statutory period in exercise of inherent powers sans […]

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Timely Realisation of Assets by Secured Creditors- IBBI’s Discussion Paper on Liquidation Process Regulations

November 6, 2019/0 Comments/in Insolvency and Bankruptcy Code /by Staff Publication

-Megha Mittal (resolution@vinodkothari.com) The Insolvency and Bankruptcy Board of India (“IBBI”/ “Board”) has invited comments on its Discussion Paper on Corporate Liquidation Process[1], dated 03.11.2019 (“Discussion Paper”), which essentially deals with two issues which have been the focal point of contrasting opinions as well as judicial interpretation at various instances, i.e. (a) Relinquishment of Security […]

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Schemes under Section 230 with a pinch of section 29A – Is it the final recipe?

November 2, 2019/1 Comment/in Companies Act 2013, Insolvency and Bankruptcy Code /by Staff Publication

-Sikha Bansal (resolution@vinodkothari.com) Note: This article is in continuation of/an addition to our earlier article wherein the author discussed various aspects pertaining to schemes of arrangement in liquidation under section 230 of the Companies Act, 2013 read with various provisions of the Insolvency and Bankruptcy Code, 2016. The author has described various factors and principles […]

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Resurrecting the Dead- A discussion around schemes of arrangement in liquidation

October 22, 2019/0 Comments/in Companies Act 2013, Insolvency and Bankruptcy Code /by Staff Publication

-Sikha Bansal (resolution@vinodkothari.com) In India, the provisions for schemes of compromises/arrangements have formed a part of the Indian Companies Act, 1913 and then the successors – the Companies Act, 1956/2013 following the English law. After Sick Industrial Companies (Special Provisions) Act, 1985 (‘SICA’) was enacted, it was not possible to invoke the provisions relating to […]

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Articles

Case Update: SC extended the CIRP by exercising Article 142 of the Constitution

Timely Realisation of Assets by Secured Creditors- IBBI’s Discussion Paper on Liquidation Process Regulations

Schemes under Section 230 with a pinch of section 29A – Is it the final recipe?

Resurrecting the Dead- A discussion around schemes of arrangement in liquidation