Section 7 Vs Section 9 IBC – Key Differences Every Creditor Must Know The Insolvency and Bankruptcy Code, 2016 has revolutionized the debt recovery landscape in India. Among its provisions, Section 7 (for financial creditors) and Section 9 (for operational creditors) are most frequently invoked before the National Company Law Tribunal’s. While both sections allow …
What is RERA(– the Real Estate (Regulation & Development) Act, 2016 ? A central law to regulate and develop the real estate sector, ensuring transparency, accountability, and protection for homebuyers. – RERA – the Real Estate (Regulation & Development) Act, 2016 which regulates the real estate sector and safeguards homebuyers. RERA stands for: R …
Major Changes Introduced on Revised CIRP Forms” issued by IBBI In a significant step toward streamlining insolvency compliance and promoting digital governance, the Insolvency and Bankruptcy Board of India has announced major amendments to the Corporate Insolvency Resolution Process under the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016. These changes, notified on May …
Implication of Stamp Duty on Scheme of Arrangement (Merger & Amalgamation) Mergers and amalgamations are critical instruments in corporate restructuring and expansion strategies. However, a key legal and financial component that is often underestimated is stamp duty—a transaction-based tax governed primarily by state laws in India. Our this blog delves into one of the most …
CIRP Amendments Regulations Impact on CoC, Homebuyers, & MSME The recent amendments to the Insolvency Resolution Process for Corporate Persons Regulations by the Insolvency and Bankruptcy Board of India have introduced key changes that will impact the Committee of Creditors, homebuyers, and Micro, small, and medium enterprises. These amendments, effective from 3rd February 2025, aim …
FAQs on Liquidation and Voluntary Liquidation Forms (As on 10.01.2025) What are the key responsibilities of Insolvency Professionals when filing Liquidation and Voluntary Liquidation forms? Ensure accurate completion of all relevant fields. Submit comprehensive details and all required documents. File only one LIQ-1, LIQ-3, LIQ-4, VL-1, VL-3, and VL-4 per Corporate Debtor (CD). What documents …
IBBI, IBA to launch centralised platform (eBKray platform) for asset liquidation The eBKray platform is a crucial step toward modernizing the IBC’s liquidation framework. By addressing issues like fragmented processes, limited buyer access, and inadequate recovery rates, it ensures fairer, more efficient outcomes for all stakeholders. This reform not only supports creditors and buyers but …
Highlight significant issues in regulatory framework governing IPs & CoC The current regulatory environment for IPs indeed presents significant challenges. Addressing these concerns requires a balanced approach where both the CoC and IPs are held to standards of accountability and responsibility. Constructive dialogue with regulatory authorities and collective action from within the profession are essential …
To check eligibility Test for filing Resolution plan by Resolution applicant. Meaning of IBC Section 29A When the Insolvency and Bankruptcy Code, 2016 was passed by the Indian Parliament, insolvency rules were still in the early stages in India. Its goals were to safeguard an individual’s or corporation’s interest in insolvency or bankruptcy and to …
Comparison between CIRP process, Liquidation process, Voluntary liquidation processes – Section 59, and Fast track process S. No . Action Particular of IBC CIRP Liquidation process Voluntary liquidation processes – Section 59 Fast track process Appplicablity Who can apply FC / OC / CD Max period of CIRP is over / AA rejects the plan …