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The Pre-Packaged Insolvency Resolution Process was introduced by an Ordinance in 2021 and provides financially troubled Micro, Small, and Medium-Sized Enterprises (MSMEs) with a well-organized framework to promptly and effectively address their insolvency difficulties.

The Insolvency and Bankruptcy Code, 2016 (IBC) allows creditors to initiate insolvency proceedings against personal guarantors (“PGs”) of corporate debtors (“CDs”), independent of any ongoing corporate insolvency resolution process (“CIRP”) against the CD itself.

MSME firms play an important part in a country's economic development. MSME represents businesses that fall under a specified size and turnover range.

The efficient handling of Corporate Insolvency Resolution Process (CIRP) cases is critical in the current fast-paced business environment. Leveraging a digital platform can transform the way these cases are handled with the advent of digital technologies, resulting in increased efficiency, transparency, and stakeholder participation.

Are you a Homebuyer who has paid advances and development costs to the builder but have not been given the possession of your home yet? Delays in real estate projects can be frustrating and homebuyers can feel helpless against a powerful developer with financial and legal means. Not anymore – with the Insolvency and Bankruptcy Code, homebuyers can initiate insolvency proceedings against the builders and enforce their rights and make the builder pay up.

In the complex domain of insolvency proceedings, insolvency professionals (IPs) play a pivotal role, aiding in the resolution process between debtors and creditors. Yet, their duties are governed by rigorous regulations and compliance standards.

A claim, as defined in the Insolvency and Bankruptcy Code (IBC), is essentially the right to reimbursement for an amount owed to a financially distressed company. Whether payment is due now or later, whether the amount is agreed upon by both parties, or whether there is a dispute, payment is inconsequential.

In today's globalized economy, businesses frequently operate across borders, raising complex legal issues when insolvency strikes. The Insolvency and Bankruptcy Code (IBC) in India, enacted in 2016, aims to consolidate and amend the laws relating to reorganization and insolvency resolution of corporate persons, partnership firms, and individuals.

In the dynamic landscape of financial markets, the occurrence of stressed assets has become a prevalent challenge for businesses and creditors alike. Stressed assets refer to loans or investments where the borrower is facing financial difficulties or defaulting on payments.

In the intricate tapestry of insolvency proceedings, the Insolvency and Bankruptcy Code (IBC) of India delineates a structured framework for the resolution of distressed entities, striving for fairness and equilibrium among creditors.

In recent years, the National Company Law Tribunal (NCLT) auctions have emerged as a crucial mechanism for resolving insolvency and bankruptcy cases in India.

The Insolvency and Bankruptcy Code (IBC) has been a transformative legislation in the Indian financial landscape since its enactment in 2016. At the heart of the IBC lies a critical component known as the "Resolution Plan."

In the dynamic landscape of finance and business, the need for efficient and effective solutions during times of financial distress has led to the emergence of innovative platforms known as "Insolvency as a Service." This groundbreaking concept has revolutionized the way businesses navigate insolvency and restructuring processes.

The Insolvency and Bankruptcy Code (IBC) of India, enacted in 2016, marked a significant shift in the country's approach to resolving corporate insolvency. Among the key players in the insolvency resolution process is the Resolution Professional (RP).

The Insolvency and Bankruptcy Code (IBC) in India has been a game-changer in the financial landscape, providing a robust legal framework for the resolution of insolvency and bankruptcy cases.

In the intricate world of insolvency and bankruptcy, the issuance of demand notices plays a pivotal role. This blog aims to provide a comprehensive understanding of the importance, process, and implications of demand notices under the Insolvency and Bankruptcy Code (IBC). 

In today's fast-paced world, businesses often find themselves grappling with the issue of unpaid debts, leading to financial strain and instability. Debt collection is a challenging process that requires time, resources, and expertise.

The Insolvency and Bankruptcy Code (IBC) of India, enacted in 2016, marked a significant shift in the country's insolvency and bankruptcy regime. It aimed to create a more efficient and time-bound process for the resolution of distressed assets, benefiting both creditors and debtors.

Individual insolvency, commonly known as personal bankruptcy, is a legal framework that provides individuals with a structured process to resolve their financial distress and unmanageable debts and/or guaranteed financial obligations. It offers a chance for such individuals to make a fresh financial start while ensuring a fair distribution of assets among creditors.

The Insolvency and Bankruptcy Code (IBC) of India is a landmark legislation that aims to streamline the insolvency resolution process for individuals, companies, and, creditors. One of the critical aspects of this code is the submission of claims by creditors.

In the intricate landscape of insolvency and bankruptcy proceedings, having the right support and guidance is crucial. The role of an Insolvency Professional (IP) in managing these complex matters cannot be understated.

Loan settlements have become increasingly common in today's financial landscape, especially in the context of the Insolvency and Bankruptcy Code (IBC) in India.

The Insolvency and Bankruptcy Code (IBC) has brought a paradigm shift in the Indian legal landscape, redefining the insolvency framework for both corporates and individuals. One aspect that has garnered significant attention is the inclusion of personal guarantors under the IBC.

Purchasing a home is often considered a milestone achievement, symbolizing stability and security. However, the dream of owning a home can quickly turn into a nightmare when homebuyers encounter unfair practices from builders.

Simplify the documents required for MSME Samadhaan related issues with our comprehensive assistance.

In recent years, the economic landscape has witnessed a significant increase in corporate insolvencies. Financial distress and insolvency can pose severe challenges to both businesses and creditors, leading to economic instability.

Liquidation of a company is a legal process in which a company's assets are sold off to pay its debts to creditors.

The COVID-19 pandemic hit very hard on Indian business enterprises. The companies struggled a lot to meet their daily expenses. To mitigate the losses caused by the Covid-19 pandemic on various business enterprises in the country, the Indian Government launched an Emergency Credit Line Guarantee Scheme (ECLGS).

The Insolvency and Bankruptcy Code (IBC) is a landmark legislation passed by the Indian Parliament in 2016 to consolidate and amend the laws relating to insolvency and bankruptcy in India. The IBC provides a unified legal framework for the resolution of corporate insolvency and bankruptcy, with the aim of promoting the maximization of value of assets, balancing the interests of all stakeholders, and ensuring timely resolution of cases. 

The Insolvency and Bankruptcy Code (IBC) was introduced in India in 2016 to provide a unified framework for resolving insolvency issues. One of the key components of the IBC is the Corporate Insolvency Resolution Process (CIRP), which provides a mechanism for resolving insolvency issues faced by companies. 

Q : What Led to Enactment of the Code ?Ans: The Bankruptcy Law Reforms Committee (BLRC) constituted by Government of India observed in its report in the year 2015, that the prevailing legal framework is highly fragmented and incoherent as well as marred by legislative and judicial uncertainty. It recommended for overhauling multiplicity of laws relating to insolvency and for constitution of a dedicated regulatory and institutional framework.

Supreme Court held that NCLT & NCLAT clearly erred in its observation that Sales Tax approached RP at belated stage, after approval of Resolution Plan – claim was not filed within time. As observed by SC, delay in filing a claim cannot be the sole ground for rejecting a claim. Further, SC held that NCLAT also erred in law in rejecting the application/ appeal on the following grounds:

Recently in the matter of Balkrishna Rama Tarle (Dead) Through LRs Vs. Phoenix ARC Pvt Ltd & Others has, Hon’ble Supreme Court, while examining the scope of powers of CMM/DM in taking possession of the secured assets, has reiterated that Section 14 does not involve any adjudicatory process qua the points raised by borrowers against secured creditor taking possession of secured assets and that the CMM/DM is not required to adjudicate disputes between borrower and secured creditor and/or between any third party and the secured creditor.

In India, the Ministry of Micro, Small, and Medium Enterprises (MSME) sector acts as a backbone of the Indian economy and promotes equitable development for all. Employing around 120 million people and contributing approximately 30% to India’s GDP, Micro, Small and Medium Enterprises (MSMEs) play a pivotal role in job creation and nation-building.

Highlighting the significance of Micro, Small & Medium Enterprises (MSMEs) in terms of their contribution towards employment and Gross Domestic Product of the country, pre-packaged insolvency resolution process (PPIRP) has been introduced specifically to cater

While setting up and running our businesses, we need to borrow money from banks, NBFCs and such other financing organisations. The lenders typically ask for guarantees from the promoters, directors and such individuals; while sanctioning the loans

The Insolvency and Bankruptcy Code (IBC) 2016 is a comprehensive and systemic economic reform by India that consolidates all existing laws dealing with Insolvency & Bankruptcy.

You’ve probably heard about terms such as insolvency, bankruptcy, and liquidation. But do you know who are the experts that make these complex processes work and make sure that there a resolution to these difficult situations?