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The IBBI amended the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016. We believe that these amendments will help in uniformity in the practices adopted by Insolvency Professionals for selection of and voting by Authorised Representatives and voting on resolution plans by CoC. Listen to our Podcast to know the amendments.

The power of the Insolvency and Bankruptcy Board (the "IBBI") to levy fee of 0.25% of the professional fee earned for services rendered as an IP in the preceding financial year and also 0.25% of the turnover of an IPE in the preceding financial year and the regulations thereof were challenged before the Hon'ble High Court of Judicature at Madras. In this case we will quickly discuss how the Hon'bl...

In this podcast we discuss an interesting case where the Adjudicating Authority made critical comments on the so-called Commercial Wisdom of the Committee of Creditors. It emphasised that the CoC has not at all applied its mind and that there was no element of wisdom displayed, leave alone the 'commercial wisdom'. Having said so it rejected the decision of the CoC to liquidate the Corporate Debtor...

The Adjudicating Authority admitted an application filed under S.7 of the Insolvency & Bankruptcy Code, 2016 (IBC) which was later set-aside by the NCLAT. Before it is set-aside the corporate debtor had incurred certain CIRP Cost. Who shall bear these expenses? Is it the Applicant FC alone or proportionately by the members of CoC? Listen to our podcast to know the answer.

Case Studies are always fun and we want to make it much easier. Mr Vineeth Vakiti, an alumni of NLU, Visakhapatnam and currently pursuing Graduate Insolvency Programme worked on this case brief and narrated the same.   Albanna Engineering is a critical case on Group Insolvency where the Parent Company is incorporated in Dubai. 

In this podcast we will brief you on the NCLAT order in the matter of liquidation of Surana Power Ltd., the Corporate Debtor. The Adjudicating Authority had admitted application filed by operational creditor under Section 9 of the Code for initiation of CIRP against Surana Power Ltd. With non-receipt of any resolution plan, the corporate debtor was ordered to be liquidated. One of the operational...

In this podcast Mr Ali discussed on the Immunity provided to corporate debtors from criminal prosecution after approval of resolution plan.

In this podcast we discuss as to how the judicial intervention of NCLT, NCLAT and Supreme Court helped establish the objective of the Insolvency and Bankruptcy Code, 2016.

In this week's podcast we quickly summarise the five cardinal principles of Corporate Insolvency Law.

A quick summary of the decision taken by the NCLAT in the matter of SBI vs. Metenere Ltd .

With the suspension of IBC due to the COVID-19 pandemic, introduction of Pre-Packaged insolvency mechanism in India seems to be inevitable. In this week's podcast we give a quick overview on the pre-packs. Speaker: CA Archit Gupta, is a chartered accountant, having experience of more than 3 years in various fields of the profession including forensic audit, valuation, indirect taxation, statutory...

Schemes of Compromise and Arrangements, Corporate Insolvency Resolution Process and Liquidation as Going Concern are three different concepts having similar output, which is saving the distressed entity. Through this podcast we discuss the differences between the three. Speaker: Mr. Aditya Gupta is a chartered accountant and electronic engineer. He is also the member of IISLA (Indian Institute of...

The green channel approval has been recommended for combinations arising out of IBC for the first time in the Report of Competition Law Committee. In this podcast we discussed the possibility of launching Green Channel Automatic Approval route for IBC Cases and the concept of Failing Firm Defence.  Speaker: Mr Divyansh Dev is an Advocate currently training as Insolvency Professional under Gra...

In this podcast we discuss the concept of Company Voluntary Arrangements under the Insolvency Act, 1986 of the United Kingdom and how different it is from the Scheme of Compromise and Arrangements. Speaker: Mr. Aditya Gupta is a chartered accountant and electronic engineer. He is also the member of IISLA (Indian Institute of Surveyor & Loss Assessor). Currently, he is pursuing Graduate Insolve...

In a resolution plan there can be no difference between a financial creditor and an operational creditor in the matter of payment of dues, and that therefore, financial creditors and operational creditors deserve equal treatment under a resolution plan. This was the order passed by the NCLAT in the matter of Essar Steel and accordingly, the NCLAT has re-distributed the proceeds payable under the a...

Foreign Direct Investment is promoted by developing economies like India, in order to supplement domestic capital, technology and skills to ensure accelerated economic growth. Accordingly, Department of Industrial Policy and Promotion of the Ministry of Commerce and Industry adopted the consolidated FDI policy in India with effect from August 28, 2017. With the onset of COVID-19 pandemic in India,...

The June 7, 2019, direction issued by the Reserve Bank of India provided for prudential framework for resolution of stressed assets outside Insolvency and Bankruptcy Code, 2016 (IBC). This provides for an opportunity to the promoters to restructure the debt before ending up being ineligible under the IBC. However, with the advent of COVID-19 the sources hint that sections 7, 9 and 10 of the Code s...

Sale of Corporate Debtor as going concern was introduced in March 2018 as one of the methods of sale of assets in IBBI (Liquidation Process) Regulations, 2016. Later in October 2018 the concept of sale of business of the corporate debtor as a going concern was introduced. Liquidation on going concern basis has now become the first endeavor of the liquidators before proceeding for any other methods...

Cash Flow Management is the most critical aspect of any company and moreover, in a company undergoing insolvency it becomes the foremost task. In stress situations of corporate borrowers, the Banks usually opt for cash flow monitoring to ensure that they closely monitor the inflows and outflows. In this context, we discuss the process of cash flow monitoring and how it can be a double-edged sword...

A special episode on Companies Fresh Start Scheme 2020 which can be used by resolution professionals during CIRP. Speaker: CS Sharath Chandra, is the founding partner of M/s Sharath & Associates, Company Secretaries who is an young company secretary in practice from Hyderabad. He can be followed on LinkedIn using the following link: https://www.linkedin.com/in/sharath-chandra-6477949a/  ...

With the enactment of the Insolvency and Bankruptcy Code, 2016 ("Code" or "IBC") there has been a paradigm shift in the way the insolvency proceedings are being handled. The law provided for only two classes of creditors, one the operational creditors and the financial creditors. The way their rights are ascribed under the code, attracted judicial scrutiny.  Being an economic legislation wher...

Speaker: Ms. Ankita Saxena is an Electrical and Electronics Engineer who is currently pursuing her course on Block Chain Technology for Business Enterprises from INSEAD, Singapore. This podcast is based on the research done by the speaker on the applicability of Block Chain Technology in the Indian Real Estate Sector and as to how it can be integrated. The benefits of such technology for the Insol...

Name of the Speaker: Mr Kunal M Phatangare Mr Kunal M Phatangare is an Advocate and Partner at M B Phatangare, Legal Consultants and Services, Nashik.  The real estate sector is under radar in the Indian economy and the difficulties of the stakeholders including government and home buyers have not been resolved yet. With the collapse of IL&FS and DHFL, the concentration on this sector has...

Speaker: Mr Vibhor Gupta Mr Vibhor Gupta is a Chartered Accountant who has worked in boutique investment banking companies and asset restructuring companies. With his expertise in finance, he handled various funding projects for startups. For any startup to achieve its dream, one of the most important elements is funding. This podcasts helps the present and prospective investors to understand as t...

Speaker: Mr Manoj Basniwal Mr Manoj Basniwal is a Chartered Accountant and a Certified Financial Planner who has experience working in real estate company and who also appeared before the Real Estate Regulatory Authority. The Real Estate (Regulation and Development) Act, 2016 ("RERA"), was enacted to establish the Real Estate Regulatory Authority for regulation and promotion of the real estate sec...