Liquidation sale as going concern: The concern is dead, long live the concern!
/0 Comments/in Insolvency and Bankruptcy /by Vinod Kothari ConsultantsInterim financing becomes effective and attractive!
/0 Comments/in Insolvency and Bankruptcy /by Vinod Kothari ConsultantsIBC, 2016 SOON TO UNDERGO A MAKEOVER
/0 Comments/in Insolvency and Bankruptcy /by Vinod Kothari ConsultantsRegulating the IBC Regulations – amendment in March 2018
/0 Comments/in Insolvency and Bankruptcy /by Vinod Kothari ConsultantsINSOLVENCY CODE: PLIGHTS AND RIGHTS OF OPERATIONAL CREDITORS
/0 Comments/in Insolvency and Bankruptcy /by Vinod Kothari ConsultantsResolution Plans to Subsume Statutory Dues?
/0 Comments/in Insolvency and Bankruptcy /by Vinod Kothari ConsultantsBy Shikha Bansal & Richa Saraf (resolution@vinodkothari.com)
The Insolvency and Bankruptcy Code, 2016 facilitates drawing up resolution plans for corporate debtors who has defaulted in making payment to its creditors. The resolution plan is approved by a committee of creditors consisting of a class of creditors (called financial creditors) of the corporate debtor. The resolution plan, once approved and sanctioned by the adjudicating authority, becomes binding on all the stakeholders of the company including dissenting financial creditors and operational creditors. As such, it assumes the nature of a contract framed under a statute. However, the question before us is whether a class of creditors can approve a resolution plan which seeks to extinguish statutory liabilities of the corporate debtor. Read more →
Resolution Professional vis-à-vis Board of Directors: Governance of Insolvent Companies
/0 Comments/in Insolvency and Bankruptcy /by Vinod Kothari Consultants– By Shikha Bansal (resolution@vinodkothari.com)
Updated as on 19th February, 2022
The Securities and Exchange Board of India (“SEBI”) has issued a “Discussion Paper on Compliance with SEBI Regulations by Listed Entities undergoing Corporate Insolvency Resolution Process under the Insolvency and Bankruptcy Code, 2016”[1] on 28th March, 2018. The Discussion Paper proposes certain modifications in the applicable regulatory framework to facilitate insolvency resolution of listed corporate debtors while at the same time ensuring that the interests of investors in securities of such corporate debtors are protected. Read more →