Relief to Employees Under IBC: NCLAT Set Aside Liquidation Order

By |2019-09-24T16:21:20+05:30September 17th, 2019|Insolvency(IBC)|

INTRODUCTION In a very recent judgment, the Hon’ble NCLAT in the matter of Shweta Vishwanath Shirke & Ors. vs. Committee of Creditors, while dismissing the Order for liquidation of M/s Sterling Biotech, passed by the Adjudicating Authority, Mumbai Bench, has held that Section 29A of IBC is not applicable for entertaining/considering an application under [...]

Obligation under “TAKE OR PAY” agreement:-is it operational Debt under IBC? – EasyLegalTax

By |2019-09-18T12:54:17+05:30April 20th, 2019|Insolvency(IBC)|

For filing Complaint for recovery of money under IBC the one should be either financial creditor or operational creditor. To qualify as creditor in either of the category- financial or operational creditor the one must be qualified as per the definition of owing financial debt or operational debt. It is always been and debated [...]

What is Insolvency And Bankruptcy Code(IBC)?

By |2019-09-21T16:49:15+05:30April 13th, 2019|Insolvency(IBC)|

What is IBC? Insolvency and Bankruptcy Code 2016 is one of the biggest step undertaken by India towards much required economic reform of country. That’s why Government has rolled out such a code in a very speedy manner for its implementation. History Line of IBC:- Difference between Insolvency and Bankruptcy? Going forward [...]

4 Situations When Liquidation Can Be Ordered Under IBC – EasyLegalTax

By |2019-04-22T12:01:20+05:30April 8th, 2019|Insolvency(IBC)|

Under insolvency and bankruptcy law, it’s always not been the situation that the resolution process for the revival of corporate debtor initiated under the code becomes successful and everyone gets the satisfied solution. In such situation, liquidation of the debtor becomes the last option. There could be following four situations under which liquidation can [...]

Home Buyers Which Way To Go RERA Or Insolvency Code?

By |2019-09-30T16:15:26+05:30February 20th, 2019|Insolvency(IBC), RERA|

Complaint against builder under RERA or IBC? As the fastest growing economy of the world, India is witnessing heavy development in the form of setting up of new industries, new residential development. Rural population is heavily migrating around the metropolitan cities because of which heavy construction is going around the main cities of India [...]

Why Home Buyers Are Unsecured Creditors Under Insolvency And Bankruptcy Code? -EasyLegalTax

By |2019-04-22T11:49:20+05:30February 20th, 2019|Insolvency(IBC)|

Indian real estate buyers are witnessing lots of confusion regarding the recovery of their money lying withbuilders, adding more atrocity to situation now the builders don't have money to pay back, the projects are stucked in middle or with no development. Arrival of new RERA law, adding hopes in the life of home buyers for [...]

7 Important Differences Between NCLT and DRT -EasyLegalTax

By |2019-04-23T12:15:39+05:30February 20th, 2019|Insolvency(IBC)|

Every country in its economic system has the ever going hard challenge of recovery of money resultant to which various debt recovery mechanisms has been setup, like wise in India, in the 1990’s, since the banks were incurring huge losses due to bad debts and ever increasing Non Performing Assets(NPA’s), government felt the need [...]

7 Benefits to home buyers under IBC as financial creditors – EasyLegalTax

By |2019-04-22T11:46:07+05:30February 19th, 2019|Insolvency(IBC)|

Everywhere in India where new developments are going, real estate investors or home buyers have faced lots of problems of for getting possession of the property or either the refund of their hard earn money ,but unfortunately neither of option has really worked. Past two decades when everyone felt heavy construction around the prominent [...]

Time Limit For Completion of Insolvency Resolution Process -EasyLegalTax

By |2019-04-22T11:44:35+05:30February 11th, 2019|Insolvency(IBC)|

For understanding the exact conceptread these two definitions:- Defination1:-Insolvency Commencement Date = date of admission of application for initiating Corporate Insolvency Resolution Procedure(CIRP) by the adjudicating authority(NCLT)  u/s 7, 9 or 10, as the case may be. Defination2:- Insolvency Resolution process period = period of 180days from the date of insolvency commencement date. As [...]