The Insolvency and Bankruptcy Code is one of the most effective reforms for resolving India’s overwhelming non-performing assets (NPAs) problem. The Code imposes a strict time-bound 180 + 90 days resolve or liquidate decree. The fear of losing control over their company has prompted various promoters to settle or resolve their dues. In the time to come, IBC should become a significant facilitator for improving debtor mindset.
The book is a guide on the concepts and procedure along with relevant case laws as applicable to the provisions in the Code. The book is a section-wise short commentary explaining the process from the inception of resolution to the final discharge order. It is written keeping in mind the needs of insolvency professionals, lawyers, Chartered Accountants, Company Secretary, students and other academicians.
The key features of the book are :
– Quick reference guide outlining analysis of the Code with the latest case laws as decided by the respective Adjudicating Authority, Appellate Authority and Supreme Court;
– Detailed explanation of the procedures as prescribed under the Code for resolution and liquidation / bankruptcy;
– Updated including the latest provisions of Insolvency and Bankruptcy (Second Amendment) Act, 2018.
It is important to note that the IBC has seen multiple amendments since its inception, which have been well directed in plugging the loopholes in the initial version of the Code. I hope this book will be helpful to gain an interesting viewpoint of the journey of the Code so far.
Contents –
Introduction
1. Scope and Applicability
2. Corporate Insolvency Resolution Process (CIRP)
3. Fast Track Corporate Insolvency Resolution Process
4. Liquidation Process
5. Voluntary Liquidation of Corporate Persons
6. Insolvency Resolution Process for Individuals and Partnership Firm
7. Offences and Penalties
8. Institutional Framework under the Code
Appendix – Important and Useful Definitions under the Code
