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Three years have passed since the enactment of Insolvency and Bankruptcy Code (“IBC”) and it has created a revolution in Financial Sector by settling a lot of cases with huge due amounts. But on keen observation it is to be noted that the cases settled fall under certain broad categories or mostly fall within homogenous groups. This shows that not all the cases are settled as expected from IBC. The rates, industrial sectors and debt value have a great influence over the cases that settled. This article will attempt to discuss the factors and their impact on effective functioning of IBC.

The Path of IBC – Steps or Slides?

Three years have passed since the enactment of Insolvency and Bankruptcy Code (“IBC”) and it has created a revolution in Financial Sector by settling a lot of cases with huge due amounts. But on keen observation it is to be noted that the cases settled fall under certain broad categories or mostly fall within homogenous groups. This shows that not all the cases are settled as expected from IBC. The rates, industrial sectors and debt value have a great influence over the cases that settled. This article will attempt to discuss the factors and their impact on effective functioning of IBC.

Distressed Relationship Between India inc. and Covid-19

The mother earth is currently going through a catastrophic climate as the novel Coronavirus has polluted the world with its cacophonic outbreak all around the globe. Coronavirus or Covid-19 is an infectious disease that attacks the respiratory system of a human being. It is contagious in nature and spreads through a chain-like reaction primarily through droplets of saliva or discharge from the nose when an infected person coughs or sneezes. With no specific vaccines or treatments for COVID-19 yet in the market, the aftermath of this has been not less than a global genocide.

Reverse CIRP- An Architecture of NCLAT

Insolvency and Bankruptcy code, 2016 has been brought into force to give an exit route to body corporates and has safeguarded the right to revive the project. Corporate Insolvency Resolution Process (hereinafter CIRP) under the Act and has been dealt with in part II, chapter II of the Code of the same Act. In this process, if a corporate body commits default as envisaged in the Code; a financial creditor or even an operational creditor, or at most the corporate itself may initiate this process to exhaust the safe exit plan.

IBBI Notifies Liquidation Process – An Amendment

The Corporate Tax Reduction that was implemented on the 20th September, 2019, by the Finance Ministry of India, has set the eyes of global investors, Multi-National Companies and other countries on us. By this reform, India makes herself to be a potential competitor in the Global market. But many criticisms were also placed that this move would not fetch any immediate positive results and in fact worsen the existing sluggish economic state.

Internal Policy or a Step to Lure Global Investment

The Corporate Tax Reduction that was implemented on the 20th September, 2019, by the Finance Ministry of India, has set the eyes of global investors, Multi-National Companies and other countries on us. By this reform, India makes herself to be a potential competitor in the Global market. But many criticisms were also placed that this move would not fetch any immediate positive results and in fact worsen the existing sluggish economic state.

Corporate Tax Cut – Revenue Forgone For Ultimate Good?

India is facing an economic slowdown which is unprecedented for the past six years. Once the fastest growing economy is confronted with a serious but sudden slippage which startled the entire world (especially the foreign powers who wanted to invest in Indian market).

Corporate Tax Rate Reduction – Bane or Boon?

India has reached the lowest economic figures last month in the past six-year scale. Economists and policy makers are struggling to understand the reasons for such downward statistics. In this background, the Finance Minister of India, Mrs. Nirmala Sitharaman has introduced the direct tax rate reduction that benefits companies, individuals and Foreign Portfolio Investor (“FPI”).

Significance of Insolvency and Bankruptcy Code Amendment

The processes of Insolvency and liquidation got complicated due to the involvement of numerous Acts like Sick Industrial Companies Act, SARFAESI Act, Companies Act, Recovery of Debt due to Banks and Financial Institutions Act, Companies Act etc.

Role of Competition Commission of India in Insolvency Resolution

The Insolvency and Bankruptcy Code, 2016 (“IBC”) created revolution in the existing legal sphere. IBC has a huge impact on Indian economy (even in international scenario) as it is intertwined with other Acts and Rules like Competition Act, 2002, Competition Commission of India (Procedure in regard to the transaction of Business relating to Combinations) Regulations, 2011 etc.

Insolvency and Bankruptcy Laws in Comparison to various other countries: An Analysis

Insolvency is the state in which either a person or a company whose liabilities has exceeded its asset value and is not able to pay off its debt to the creditor. Legally it can be solved through the process of bankruptcy.

Insolvency and Bankruptcy Code – Settlement of Debts by Promoters After Liquidation Proceedings are...

The Insolvency and Bankruptcy Code is a body of law which is in its evolutionary stage. Every amendment and precedent set by the various tribunals moulds the Code to better accommodate the issues particular to the market in the nation. Many of the provisions in this Code have been up for debate, and most recently, Section 29A has joined the category.

Impact of the Insolvency and Bankruptcy Code, 2016 on Various Facets

In 2016, the Houses of Parliament passed the Insolvency and Bankruptcy Bill which changed the face of Insolvency Resolution Process for Corporates. This Act has resulted in the repeal of the Sick Industrial Companies Act and has put in place measures that make sure a quick and efficient resolution process to repay all the debts owed by a corporate debtor.

The Synergy of IBC & Uncitral Model Law in Cross Border Insolvency

Cross-border insolvency is one where the insolvent debtor has assets in more than one State or where some creditors of the debtor are not from the State where the insolvency proceeding is taking place.

Banks and the Insolvency and Bankruptcy Code 2016

The Insolvency and Bankruptcy Code 2016 (hereafter referred as the Code) received the president’s assent on May 28.05.2016. The objective of the Act is to “to consolidate and amend laws relating to reorganization and insolvency of corporate persons, partnership firms and individuals in a time bound manner”. The Act also intends to promote availability of credit.