2,111 results found

The Securities and Exchange Board of India ("SEBI') has under its notification dated 24 January 2022 ("Amendment Regulations") amended the SEBI (Alternative Investment Funds) Regulations, 2012.

Voluntary liquidation is an important mechanism that allows solvent corporate entities to wind up operations in an orderly, transparent, and efficient manner.

The recent judgment by the National Company Law Appellate Tribunal (NCLAT) in NCC Ltd. v. Golden Jubilee Hotels Pvt. Ltd. sheds light on the treatment...

The Insolvency and Bankruptcy Code, 2016 (‘IBC') enables financial creditors and operational creditors of a corporate debtor to initiate the corporate insolvency resolution process (‘CIRP')...

The Apex Court on May 21,2021 in Lalit Kumar Jain V. Union of India & Ors recognized and upheld the Rules on Insolvency and Bankruptcy (Application to Adjudicating Authority for Insolvency Resolution Process for Personal Guarantors to Corporate Debtors) 2019, ...

The deduction of tax at source is a statutory obligation and the Income Tax Act does not make a classification as to the payment of interest.

The Insolvency and Bankruptcy Code (Amendment) Act, 2021 ("Act") provides for a pre-packaged insolvency resolution process ("PPIRP") for Micro, Small, and Medium Enterprises.

Refer below a balance sheet for XYZ Limited, based on the balance sheet and additional information provided provide a working for outcome to different class of creditors.

Regulation 39(1A) of CIRP Regulations permits limited modifications and competitive improvements to resolution plans. Courts affirm the Committee of Creditors' (CoC) discretion to negotiate and enhance financial proposals, emphasizing the CoC's commercial wisdom and the objective of maximizing debtor value while adhering to resolution timelines.

The National Company Law Appellate Tribunal ("NCLAT"), recently in the case of State Bank of India vs. Mr. Deepak Kumar Singhania, has clarified that a statutory demand notice...

The Insolvency and Bankruptcy Code is a new legislation to manage the Insolvency resolution process for corporate persons, individuals and partnership firms.

The introduction of the Insolvency and Bankruptcy Code, 2016 (I&B Code) has marked a pivotal moment in India's approach to corporate insolvency and restructuring of distress companies undergoing financial crisis and turmoil.

This highlights the importance of having crystallized terms in respect of any lending in the absence of which a creditor may possibly not have recourse under the Code.

Section 31 of the Insolvency and Bankruptcy Code, 2016 (Code) provides that a resolution plan, once approved by the Adjudicating Authority, is binding on all stakeholders including the creditors and surety/guarantors of the Corporate Debtor (CD), and extinguishes all accrued liabilities of the CD except as provided under the approved plan.

In India, Insolvency and Bankruptcy Code 2016 (hereinafter referred as "IBC") was introduced with the objective of revival of companies. But over the years, this revival was conditional.

This would defeat the purpose of IBC and would also cause wrongful loses to all the creditors including Roxcel.

A personal guarantor is an individual who provides surety under a contract of guarantee to a corporate debtor. Till, 2016, in case of default by a corporate debtor, creditors had the option of recovering...