We at Vinod Kothari & Company, have been witness to the development of the Code right since its embryonic stage. We had opportunity of interacting while the law was being enacted, and consistently thereafter. Since academic writing has been as much a part of our daily agenda as any other engagements, we have been continuously writing and commenting on IBC developments, right from the time of the Interim Report of the Bankruptcy Law Reforms Committee.

With 3 years behind us, it was thought apt to cherry-pick some of our writings on IBC that remain relevant and useful in understanding the law, by way of this book titled “IBC: Ushering in a New Era”

For ease of reading, the topics have been categorised into 8 sections, consisting of the following chapters:

or you can download the entire book here

 

 

 

Section Contents Page No.
ABOUT THIS BOOK 2-4
LIST OF ABBREVIATIONS 8-9
SECTION I ADVENT OF IBC 10
Ushering of a New Bankruptcy Code 11-18
SICA Bids Adieu 19-23
SECTION II SOME BASIC DEFINITIONAL CONCEPTS 24-30
Deciphering “Dispute” 31-37
The Concept of Related Party 38-41
NBFCs and IBC: The Lost Connection 42-46
State of Perplexity- Applicability of IBC on NBFCs 47-52
SECTION III CORPORATE INSOLVENCY RESOLUTION PROCESS 52-53
Constitutional Powers Immune From Moratorium Under IBC 54-61
Role Of Insolvency Professionals In Corporate Insolvency Resolution Process 62-72
Resolution Professional vis-a-vis Board of Directors: Governance of Insolvent Companies 73-82
Meetings Of Committee Of Creditors Under Insolvency Code 83-85
Absenteeism In Voting: An Oxymoron 86-90
Dictated Decision-Making 91-92
Ineligibility Criteria U/S 29a Of IBC:  A Net Too Wide? 93-100
Streamlining Section 29A of IBC 101-106
Fairly Confidential or Confidentially Fair 107-114
Applicability of Moratorium on Guarantor’s Assests: Through Maze of Rulings 115-118
Simultaneous Claim By  A Beneficiary of Guarantee 119-122
Financial Exposure of Secured Creditors and The Relevance of Vertical Comparison In Resolution 123-125
Subordination of Operational Creditors Under IBC: Whether Equitable 126-132
The Curious Case Of Home Buyers: All Is Well? 133-136
Amendment In Delisting Regulations:  Axing The Minority Rights 137-140
Role Of Adjudicating Authority In Approving/ Rejecting A Resolution Plan 141-145
Adjudicatory Time Limit Prescribed By IBC Not Mandatory 146-149
Interim Financing Becomes Effective And Attractive 150-154
Fraudulent Initiation  of Insolvency Proceedings 155-158
Post-Admission Withdrawal  of Insolvency Proceedings 159-164
Liquidation Before Resolution? 165-169
SECTION IV LIQUIDATION PROCESS 170
Schemes of Arrangement In Liquidation:  A New Ray of Hope 171-174
Enabling Going Concern Sale In Liquidation 175-191
Concerns On Going Concern 192-196
Liquidation Sale As Going Concern 197-201
Scale-Based Liquidator’s Fee 202-207
Relinquishment Of Security By Secured Creditors 208-215
To Relinquish Or Not To Relinquish 216-220
Moratorium During Liquidation: Scope And Effect 221-225
Tax Authorities Left High & Dry In IBC Cases 226-227
Proof of Claim In Liquidation:  Whether Dispensable? 228-230
Latecomers In Liquidation –  Entitlements And Penalties 231-237
Priority of Tax Dues In Liquidation 238-241
Inclusion of Assets Taken on Lease In The Liquidation Estate of The Lessee 242-248
Can Liquidator’s Outreach Grab  Guarantors Assets 249-251
Decisions of Insolvency Professional Scope of Judicial Review 252-258
Voluntary Liquidation Regulations-  Last But Not The Least 259-267
SECTION V PREFERENTIAL, WRONGFUL & FRAUDULENT TRANSACTIONS 268-270
Discerning The Reach Of Avoidance Proceedings 271-274
A Note on  Fraudulent Trading and Wrongful Trading 275-287
Look- Back Period vis-a-vis Fraudulent Transactions 288-290
SECTION VI NON-CORPORATE INSOLVENCY 291-296
SECTION VII MAJOR JUDICIAL DEVELOPMENTS 297-298
Constitutional Validity Of  Insolvency And Bankruptcy Code 298-300
Swiss Ribbons Sc Ruling:  IBC Must Stay On, The Defaulters Paradise Is Lost! 301-303
Applicability of Limitation Act To Insolvency And Bankruptcy Code 304-308
RBI’s 12th February Circular:  The Last Word Becomes The Lost World 309-314
Plight of A Power Of Attorney Holder  vis-a-vis Insolvency Proceeding 315-319
SECTION VIII GROUP INSOLVENCY 320
Entity vs. Enterprise 321-337
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