This article deals with the differences that have been brought along with the changes in positions of creditors under the Insolvency and Bankruptcy Code. It gives an in-depth analysis of the process and the discussions that surround this issue while looking into judgements and the after-effects brought in by this change.
Introduction The Insolvency and Bankruptcy Code, 2016 is a special law, which has been lay down for the purpose of bringing out an industry from distress and to ensure that its assets do not go to waste by liquidation. IBC is […]
Introduction The concept of contract of guarantee revolves around the principle that a Personal guarantor shall perform the promise or discharge the liability of the principal debtor towards a creditor, in the event, such principal debtor has failed to perform […]
From an economic perspective, the Insolvency and Bankruptcy Code institution, 2016, had been a significant amelioration in our country’s economic system. It has enhanced the global economic image of India. India is a foremost part of the global economy, so India needed to compete with other emerging nations and large economies. We had distinctive overlapping laws concerning Insolvency, which was not adequate to settle down corporate and individual debt. Another imperative purpose of establishing this code was to attract foreign nations to invest in India. India aimed to be at par with these foreign nations who play a vital role in the global economy.
The author in this article focuses on the Voluntary Liquidation of Corporate Persons and the procedure provided for it, under Companies Act, 2013 and Insolvency and Bankruptcy Code, 2016.
Swiss Ribbons Pvt. Ltd. v/s Union of India Writ Petition (Civil) No.99 of 2018 Dated: 25th January 2019 Introduction: The Supreme Court, on the 25th of January 2019, passed its judgment on the Swiss Ribbons Pvt. Ltd. v. Union of […]