IBC News
Has The Insolvency And Bankruptcy Code, 2016 Been Successfully Decoded? - Review Of Commentary On The Insolvency And Bankruptcy Code Penned By Pranav Khatavkar
To the best of my knowledge, this is the first commentary on the Insolvency and Bankruptcy Code, 2016("Code"). I have perused the contents of the book and at the outset my primary remark is that the author has made a genuine attempt to simplify the law. A sound understanding of the law is evident from the manner in which the provisions have been interpreted.The entire structure of this book...
MCA notifies National Company Law Tribunal and Appellate Tribunal Rules [Read rules]
The Ministry of Corporate Affairs on Thursday notified the National Company Law Tribunal Rules, 2016 and the National Company Law Appellate Tribunal Rules, 2016.The constitution of NCLT was notified by the Ministry on June 1. With the constitution of the NCLT, the Company Law Board constituted under the Companies Act, 1956 stood dissolved.There would be 11 benches of the NCLT, two at New...
Breaking; National Company Law Appellate Tribunal (NCLAT) Constituted;Justice S.J. Mukhopadhaya is the Chairman
The Ministry of Corporate Affairs has issued notification for constitution of the National Company Law Tribunal (NCLT) and National Company Law Appellate Tribunal (NCLAT) with effect from today i.e. 1st June, 2016. Hon'ble Justice S.J. Mukhopadhaya, Judge (Retd.), Supreme Court of India has joined as the Chairperson of the NCLAT and Hon'ble Justice M.M.Kumar, Judge (Retd.) has joined as...
Insolvency and Bankruptcy Code receives President's Assent [Read the Code]
The Insolvency and Bankruptcy Code received the President's assent on May 28 and was notified in the Gazette of India soon after. As listed down by PIB, the salient features of the law are as follows: Clear, coherent and speedy process for early identification of financial distress and resolution of companies and limited liability entities if the underlying business is found to be viable...
Parliament passes the Insolvency and Bankruptcy Code
Today is a historical day for economic reforms in India when the Rajya Sabha passed the major economic reform Bill moved by the Government i.e. 'Insolvency and Bankruptcy Code, 2016'. This is considered as the biggest economic reform next only to GST. The Lok Sabha had earlier passed the Bill on 5th May, 2016.In India, the legal and institutional machinery for dealing with debt default has...
Ministry of Corporate Affairs: Notice inviting Comments on The Draft Rules of NCLT provisions under The Companies Act, 2013
283 Sections of the Companies Act, 2013 have already been commenced. Remaining sections related to functioning of NCLT/NCLAT and certain other authorities are yet to be notified.In view of the Supreme Court order dated 14th May, 2015, the process for constitution of NCLT/NCLAT has been undertaken and these bodies are likely to be set up shortly. Read the Judgement on LiveLaw.The Ministry...