The document provides an overview of the current developments and future roadmap of the Insolvency and Bankruptcy Code (IBC) in India. It discusses key amendments made to the IBC over time, major judicial pronouncements that have shaped the law, statistics on cases resolved under the IBC, and India's improvement in the ease of doing business rankings due to the IBC. It also outlines the future direction of the IBC, including frameworks for cross-border insolvency, pre-packaged insolvency, resolution of MSMEs, and individual insolvency.
The document discusses various topics related to corporate insolvency resolution under the Insolvency and Bankruptcy Code (IBC) 2016 in India. It provides an overview of the corporate insolvency resolution process (CIRP), including key stages such as admission of the application, moratorium declaration, appointment of interim/resolution professionals, constitution of the committee of creditors, submission and approval of resolution plans, and liquidation. It also discusses the impact of the IBC, definitions, timelines for completion, and effects of the moratorium order declared during CIRP.
The document provides an overview of the Insolvency and Bankruptcy Code of India. It discusses India's poor ranking in resolving insolvency which led to the creation of the new code. The code aims to create a single law consolidating existing bankruptcy laws and establish a standardized process for insolvency resolution with strict timelines. Key aspects covered include the roles of various authorities and professionals involved, the corporate insolvency resolution process, and liquidation process if resolution fails.
Interpreting Insolvency and Bankruptcy Code, 2016Amrita Lala
The document provides an overview of the Insolvency and Bankruptcy Code of 2016 in India. It discusses the key reasons for introducing the code, including reducing time to resolve insolvency, developing investor confidence, and addressing non-performing assets. The code aims to create a single framework for insolvency and bankruptcy proceedings. It allows for insolvency resolution and bankruptcy procedures for both corporate entities and individuals/partnership firms. The document outlines the structure and various parts of the code, as well as the roles and responsibilities of different authorities and professionals involved in insolvency resolution processes under the code.
Insolvency and Bankruptcy Code - Corporate Insolvency Resolution Process Raghu Babu Gunturu
This document provides an overview of the corporate insolvency resolution process lifecycle and discusses some unique cases and their outcomes. It discusses the status of the first 12 companies identified by RBI for immediate bankruptcy proceedings, including details on resolution plans that have been approved or are still pending approval. It also summarizes key aspects of the application and admission process, constitution of the committee of creditors, interim management during the process, developing and evaluating resolution plans, and ensuring legal compliance.
The document discusses various topics related to corporate insolvency resolution under the Insolvency and Bankruptcy Code (IBC) 2016 in India. It provides an overview of the corporate insolvency resolution process (CIRP), including key stages such as admission of the application, moratorium declaration, appointment of interim/resolution professionals, constitution of the committee of creditors, submission and approval of resolution plans, and liquidation. It also discusses the impact of the IBC, definitions, timelines for completion, and effects of the moratorium order declared during CIRP.
The document provides an overview of the Insolvency and Bankruptcy Code of India. It discusses India's poor ranking in resolving insolvency which led to the creation of the new code. The code aims to create a single law consolidating existing bankruptcy laws and establish a standardized process for insolvency resolution with strict timelines. Key aspects covered include the roles of various authorities and professionals involved, the corporate insolvency resolution process, and liquidation process if resolution fails.
Interpreting Insolvency and Bankruptcy Code, 2016Amrita Lala
The document provides an overview of the Insolvency and Bankruptcy Code of 2016 in India. It discusses the key reasons for introducing the code, including reducing time to resolve insolvency, developing investor confidence, and addressing non-performing assets. The code aims to create a single framework for insolvency and bankruptcy proceedings. It allows for insolvency resolution and bankruptcy procedures for both corporate entities and individuals/partnership firms. The document outlines the structure and various parts of the code, as well as the roles and responsibilities of different authorities and professionals involved in insolvency resolution processes under the code.
Insolvency and Bankruptcy Code - Corporate Insolvency Resolution Process Raghu Babu Gunturu
This document provides an overview of the corporate insolvency resolution process lifecycle and discusses some unique cases and their outcomes. It discusses the status of the first 12 companies identified by RBI for immediate bankruptcy proceedings, including details on resolution plans that have been approved or are still pending approval. It also summarizes key aspects of the application and admission process, constitution of the committee of creditors, interim management during the process, developing and evaluating resolution plans, and ensuring legal compliance.
Covers all the issues related to Insolvency Laws and also compares the steps taken by other countries in Insolvency Laws. Views on the impact of COVID-19 on IBC laws are discussed.
Insolvency and Bankruptcy Code - Corporate Insolvency Resolution Process Raghu Babu Gunturu
This presentation gives complete process of corporate insolvency resolution process (CIRP) under insolvency and bankruptcy code 2016, the framework that is developed by EzResolve etc.,
This presentation was made at Achromic Point and BRICS CCI Seminar on “Insolvency and Bankruptcy Code 2016” at Mumbai on June 2, 2018.
CS Professional CRI Chart Book - CS Vaibhav Chitlangia - Yes Academy, Pune (2...AkshayaRaut1
This document provides an overview of various corporate restructuring and insolvency processes under Indian law. It includes flowcharts summarizing: the process for takeover of unlisted companies under Section 235 of the Companies Act 2013; open offer processes under SEBI regulations; mergers and amalgamations under Sections 230/232 of the Companies Act; fast track mergers under Section 233; mergers in public interest under Section 237; the corporate insolvency resolution process under the Insolvency and Bankruptcy Code 2016; applications to initiate corporate insolvency resolution by financial creditors, operational creditors and corporate entities; the constitution of the committee of creditors; liquidation upon failure of corporate insolvency resolution; individual/firm insolvency resolution; the
Evolution of Insolvency and Bankruptcy Code in IndiaBhumesh Verma
The document provides an overview of the evolution of insolvency and bankruptcy laws in India. It discusses the rising NPAs that banks were facing, highlighting the need for reform. The existing framework involved multiple laws leading to long recovery times. The Bankruptcy Law Reforms Committee drafted the Insolvency and Bankruptcy Code 2016 to consolidate laws into a single framework. The Code aims to reduce resolution times, promote business revival and prevent unnecessary liquidations. It established new institutions like the IBBI and NCLT and defined new processes like corporate insolvency resolution and liquidation. Key cases are discussed that have helped shape interpretation of the Code.
INSOLVENCY & BANKRUPTCY CODE – A GAME CHANGER ?Alok Saksena
The document discusses the Insolvency and Bankruptcy Code (I&BC) of India and its potential impact. It notes that previous schemes for restructuring stressed assets and reviving sick companies were largely unsuccessful. The I&BC aims to expedite the recovery process within strict timelines of 180 days, appointing resolution professionals to manage proceedings. If no resolution is found, companies will go into liquidation. The code overhauls previous recovery and insolvency laws, consolidating processes in the National Company Law Tribunal to potentially reduce recovery time and costs compared to other countries.
The document provides an overview of the Insolvency and Bankruptcy Code of 2016 in India. It notes that the previous system had low recovery rates for creditors and limited options for dealing with defaulters. The Code aims to address this by providing a unified framework for insolvency that empowers creditors over defaulters. It allows creditors to initiate corporate insolvency resolution upon default and takes control from existing management. The Code provides a fixed time frame for resolution or mandatory liquidation. It established various authorities to regulate insolvency professionals and processes under the new law.
Note on the Insolvency and Bankruptcy Code, 2016Shaun Menon
The document provides an overview of the Insolvency and Bankruptcy Code of 2016 in India. Some key points:
1) The Code was enacted to address shortcomings in existing insolvency laws and consolidate them under one law, aiming to resolve insolvency issues faster than previous average of 4.3 years in India.
2) It outlines the stage-wise corporate insolvency resolution process which must be concluded within 180 days and includes steps like appointing a resolution professional, forming a creditors committee, and developing a resolution plan or initiating liquidation.
3) If a resolution plan is not approved, the company enters liquidation where the resolution professional acts as liquidator to realize assets and distribute
Insolvency & bankruptcy code an overviewChirag Gupta
The document provides an overview of the key aspects of the Insolvency and Bankruptcy Code (IBC) of India. It summarizes the various laws that previously governed insolvency in India and the issues they posed. It then outlines the key features and objectives of the IBC, including establishing a time-bound process for insolvency resolution, promoting entrepreneurship and credit availability. The summary explains the various authorities established under the IBC and their roles, as well as the processes for corporate insolvency resolution, liquidation, voluntary liquidation and bankruptcy for individuals and firms.
The document discusses management of non-performing assets (NPAs) in banks. It defines NPAs and categories them as substandard, doubtful or loss assets depending on the period for which they have remained unpaid. It outlines provisioning norms for different NPA categories. Factors contributing to NPAs include poor credit discipline, inadequate risk management, diversion of funds by promoters and funding non-viable projects. Methods for managing NPAs discussed include preventive measures, resolution through compromise settlements, restructuring, debt recovery tribunals and sale of NPAs.
As you may be aware that a new Insolvency and Bankruptcy Code ,2016 has been enacted.
It provides “RESOLUTION OF DEFAULT” in payment to lenders very fast process to settle the matter in 180 days.
The Government as well as RBI are pressing hard to lending Banks to settle their dues through this code.
The lending banks have already started issuing Notice to borrowers to take action to settle their defaulted Accounts.
Under this code Registered Insolvency Professionals (IP) have a pivotal role to Resolve the defaulted Loan.
We are a group of professionals and One of our founder director (Advocate Ashok Juneja) is also Registered as Insolvency Professioal (IP) with Insolvency and Bankruptcy Board of India as Insolvency Professional (IBBI)
Attached is PP on new code.
You are free to contact us if you have any query/ clarification
Distressed M&A under the Bankruptcy CodeShruti Jadhav
The document provides an overview of distressed M&A under the Insolvency and Bankruptcy Code of India. It discusses the key aspects of the resolution process including initiation, moratorium, appointment of the resolution professional, formation of the committee of creditors, preparation of an information memorandum, invitation of resolution plans subject to certain eligibility criteria, and timelines for completion of the process within 270 days.
The document discusses key aspects of India's Insolvency and Bankruptcy Code of 2016, including definitions of insolvency and bankruptcy, the laws that previously governed these areas, reasons for introducing the new code, and key parties and processes involved. It also summarizes critiques of the code and amendments made in 2017 to strengthen its provisions.
Corporate India - Distress Resolution Solutions Sumedha Fiscal
The Indian Banking scenario is going through unprecedented times with stressed loan portfolio. The portfolio of all Banks put together is more than 7 lakh crore which is > 10% of total advances and there is an apprehension that there could be significant additions too.
Realizing the problem RBI has come out with many changes and schemes to tackle such stressed accounts.
Here are come of the distress resolution solutions that you can look into.
The document discusses recent changes to India's Insolvency and Bankruptcy Code (IBC) regime through amendments introduced by an Ordinance and subsequent Act. Key changes include:
1) Stricter eligibility criteria for resolution applicants, including disqualifying wilful defaulters, fraudulent entities, and those associated with non-performing assets.
2) Connected persons of ineligible resolution applicants are also barred from submitting resolution plans.
3) The committee of creditors must consider a resolution plan's feasibility and viability before approving it.
4) Liquidators are prohibited from selling bankrupt companies' assets to ineligible resolution applicants.
The presentation seeks to provide deep insight into the Pre-Packaged Insolvency Resolution Process introduced to the Insolvency and Bankruptcy Code, 2016 by way of enactment of Insolvency and Bankruptcy (Amendment) Ordinance, 2021 under Part II Chapter III-A of the Code.
The RBI circular harmonizes NPA recognition practices across all lending institutions. It specifies that loan accounts will be classified as SMA0, SMA1, or SMA2 based on the number of days past due between 0-30, 31-60, and 61-90 days respectively. Accounts become NPAs if interest or principal is overdue for more than 90 days. The circular provides clarification on aspects like out of order status, NPA classification if interest is overdue, and upgradation to standard status. Lenders must educate borrowers on these changes by March 31, 2022.
ISO/IEC 27001, ISO/IEC 42001, and GDPR: Best Practices for Implementation and...PECB
Denis is a dynamic and results-driven Chief Information Officer (CIO) with a distinguished career spanning information systems analysis and technical project management. With a proven track record of spearheading the design and delivery of cutting-edge Information Management solutions, he has consistently elevated business operations, streamlined reporting functions, and maximized process efficiency.
Certified as an ISO/IEC 27001: Information Security Management Systems (ISMS) Lead Implementer, Data Protection Officer, and Cyber Risks Analyst, Denis brings a heightened focus on data security, privacy, and cyber resilience to every endeavor.
His expertise extends across a diverse spectrum of reporting, database, and web development applications, underpinned by an exceptional grasp of data storage and virtualization technologies. His proficiency in application testing, database administration, and data cleansing ensures seamless execution of complex projects.
What sets Denis apart is his comprehensive understanding of Business and Systems Analysis technologies, honed through involvement in all phases of the Software Development Lifecycle (SDLC). From meticulous requirements gathering to precise analysis, innovative design, rigorous development, thorough testing, and successful implementation, he has consistently delivered exceptional results.
Throughout his career, he has taken on multifaceted roles, from leading technical project management teams to owning solutions that drive operational excellence. His conscientious and proactive approach is unwavering, whether he is working independently or collaboratively within a team. His ability to connect with colleagues on a personal level underscores his commitment to fostering a harmonious and productive workplace environment.
Date: May 29, 2024
Tags: Information Security, ISO/IEC 27001, ISO/IEC 42001, Artificial Intelligence, GDPR
-------------------------------------------------------------------------------
Find out more about ISO training and certification services
Training: ISO/IEC 27001 Information Security Management System - EN | PECB
ISO/IEC 42001 Artificial Intelligence Management System - EN | PECB
General Data Protection Regulation (GDPR) - Training Courses - EN | PECB
Webinars: https://pecb.com/webinars
Article: https://pecb.com/article
-------------------------------------------------------------------------------
For more information about PECB:
Website: https://pecb.com/
LinkedIn: https://www.linkedin.com/company/pecb/
Facebook: https://www.facebook.com/PECBInternational/
Slideshare: http://www.slideshare.net/PECBCERTIFICATION
Covers all the issues related to Insolvency Laws and also compares the steps taken by other countries in Insolvency Laws. Views on the impact of COVID-19 on IBC laws are discussed.
Insolvency and Bankruptcy Code - Corporate Insolvency Resolution Process Raghu Babu Gunturu
This presentation gives complete process of corporate insolvency resolution process (CIRP) under insolvency and bankruptcy code 2016, the framework that is developed by EzResolve etc.,
This presentation was made at Achromic Point and BRICS CCI Seminar on “Insolvency and Bankruptcy Code 2016” at Mumbai on June 2, 2018.
CS Professional CRI Chart Book - CS Vaibhav Chitlangia - Yes Academy, Pune (2...AkshayaRaut1
This document provides an overview of various corporate restructuring and insolvency processes under Indian law. It includes flowcharts summarizing: the process for takeover of unlisted companies under Section 235 of the Companies Act 2013; open offer processes under SEBI regulations; mergers and amalgamations under Sections 230/232 of the Companies Act; fast track mergers under Section 233; mergers in public interest under Section 237; the corporate insolvency resolution process under the Insolvency and Bankruptcy Code 2016; applications to initiate corporate insolvency resolution by financial creditors, operational creditors and corporate entities; the constitution of the committee of creditors; liquidation upon failure of corporate insolvency resolution; individual/firm insolvency resolution; the
Evolution of Insolvency and Bankruptcy Code in IndiaBhumesh Verma
The document provides an overview of the evolution of insolvency and bankruptcy laws in India. It discusses the rising NPAs that banks were facing, highlighting the need for reform. The existing framework involved multiple laws leading to long recovery times. The Bankruptcy Law Reforms Committee drafted the Insolvency and Bankruptcy Code 2016 to consolidate laws into a single framework. The Code aims to reduce resolution times, promote business revival and prevent unnecessary liquidations. It established new institutions like the IBBI and NCLT and defined new processes like corporate insolvency resolution and liquidation. Key cases are discussed that have helped shape interpretation of the Code.
INSOLVENCY & BANKRUPTCY CODE – A GAME CHANGER ?Alok Saksena
The document discusses the Insolvency and Bankruptcy Code (I&BC) of India and its potential impact. It notes that previous schemes for restructuring stressed assets and reviving sick companies were largely unsuccessful. The I&BC aims to expedite the recovery process within strict timelines of 180 days, appointing resolution professionals to manage proceedings. If no resolution is found, companies will go into liquidation. The code overhauls previous recovery and insolvency laws, consolidating processes in the National Company Law Tribunal to potentially reduce recovery time and costs compared to other countries.
The document provides an overview of the Insolvency and Bankruptcy Code of 2016 in India. It notes that the previous system had low recovery rates for creditors and limited options for dealing with defaulters. The Code aims to address this by providing a unified framework for insolvency that empowers creditors over defaulters. It allows creditors to initiate corporate insolvency resolution upon default and takes control from existing management. The Code provides a fixed time frame for resolution or mandatory liquidation. It established various authorities to regulate insolvency professionals and processes under the new law.
Note on the Insolvency and Bankruptcy Code, 2016Shaun Menon
The document provides an overview of the Insolvency and Bankruptcy Code of 2016 in India. Some key points:
1) The Code was enacted to address shortcomings in existing insolvency laws and consolidate them under one law, aiming to resolve insolvency issues faster than previous average of 4.3 years in India.
2) It outlines the stage-wise corporate insolvency resolution process which must be concluded within 180 days and includes steps like appointing a resolution professional, forming a creditors committee, and developing a resolution plan or initiating liquidation.
3) If a resolution plan is not approved, the company enters liquidation where the resolution professional acts as liquidator to realize assets and distribute
Insolvency & bankruptcy code an overviewChirag Gupta
The document provides an overview of the key aspects of the Insolvency and Bankruptcy Code (IBC) of India. It summarizes the various laws that previously governed insolvency in India and the issues they posed. It then outlines the key features and objectives of the IBC, including establishing a time-bound process for insolvency resolution, promoting entrepreneurship and credit availability. The summary explains the various authorities established under the IBC and their roles, as well as the processes for corporate insolvency resolution, liquidation, voluntary liquidation and bankruptcy for individuals and firms.
The document discusses management of non-performing assets (NPAs) in banks. It defines NPAs and categories them as substandard, doubtful or loss assets depending on the period for which they have remained unpaid. It outlines provisioning norms for different NPA categories. Factors contributing to NPAs include poor credit discipline, inadequate risk management, diversion of funds by promoters and funding non-viable projects. Methods for managing NPAs discussed include preventive measures, resolution through compromise settlements, restructuring, debt recovery tribunals and sale of NPAs.
As you may be aware that a new Insolvency and Bankruptcy Code ,2016 has been enacted.
It provides “RESOLUTION OF DEFAULT” in payment to lenders very fast process to settle the matter in 180 days.
The Government as well as RBI are pressing hard to lending Banks to settle their dues through this code.
The lending banks have already started issuing Notice to borrowers to take action to settle their defaulted Accounts.
Under this code Registered Insolvency Professionals (IP) have a pivotal role to Resolve the defaulted Loan.
We are a group of professionals and One of our founder director (Advocate Ashok Juneja) is also Registered as Insolvency Professioal (IP) with Insolvency and Bankruptcy Board of India as Insolvency Professional (IBBI)
Attached is PP on new code.
You are free to contact us if you have any query/ clarification
Distressed M&A under the Bankruptcy CodeShruti Jadhav
The document provides an overview of distressed M&A under the Insolvency and Bankruptcy Code of India. It discusses the key aspects of the resolution process including initiation, moratorium, appointment of the resolution professional, formation of the committee of creditors, preparation of an information memorandum, invitation of resolution plans subject to certain eligibility criteria, and timelines for completion of the process within 270 days.
The document discusses key aspects of India's Insolvency and Bankruptcy Code of 2016, including definitions of insolvency and bankruptcy, the laws that previously governed these areas, reasons for introducing the new code, and key parties and processes involved. It also summarizes critiques of the code and amendments made in 2017 to strengthen its provisions.
Corporate India - Distress Resolution Solutions Sumedha Fiscal
The Indian Banking scenario is going through unprecedented times with stressed loan portfolio. The portfolio of all Banks put together is more than 7 lakh crore which is > 10% of total advances and there is an apprehension that there could be significant additions too.
Realizing the problem RBI has come out with many changes and schemes to tackle such stressed accounts.
Here are come of the distress resolution solutions that you can look into.
The document discusses recent changes to India's Insolvency and Bankruptcy Code (IBC) regime through amendments introduced by an Ordinance and subsequent Act. Key changes include:
1) Stricter eligibility criteria for resolution applicants, including disqualifying wilful defaulters, fraudulent entities, and those associated with non-performing assets.
2) Connected persons of ineligible resolution applicants are also barred from submitting resolution plans.
3) The committee of creditors must consider a resolution plan's feasibility and viability before approving it.
4) Liquidators are prohibited from selling bankrupt companies' assets to ineligible resolution applicants.
The presentation seeks to provide deep insight into the Pre-Packaged Insolvency Resolution Process introduced to the Insolvency and Bankruptcy Code, 2016 by way of enactment of Insolvency and Bankruptcy (Amendment) Ordinance, 2021 under Part II Chapter III-A of the Code.
The RBI circular harmonizes NPA recognition practices across all lending institutions. It specifies that loan accounts will be classified as SMA0, SMA1, or SMA2 based on the number of days past due between 0-30, 31-60, and 61-90 days respectively. Accounts become NPAs if interest or principal is overdue for more than 90 days. The circular provides clarification on aspects like out of order status, NPA classification if interest is overdue, and upgradation to standard status. Lenders must educate borrowers on these changes by March 31, 2022.
Similar to IBC_Webinar-ppt_14.08.2020_FINAL.pdf (20)
ISO/IEC 27001, ISO/IEC 42001, and GDPR: Best Practices for Implementation and...PECB
Denis is a dynamic and results-driven Chief Information Officer (CIO) with a distinguished career spanning information systems analysis and technical project management. With a proven track record of spearheading the design and delivery of cutting-edge Information Management solutions, he has consistently elevated business operations, streamlined reporting functions, and maximized process efficiency.
Certified as an ISO/IEC 27001: Information Security Management Systems (ISMS) Lead Implementer, Data Protection Officer, and Cyber Risks Analyst, Denis brings a heightened focus on data security, privacy, and cyber resilience to every endeavor.
His expertise extends across a diverse spectrum of reporting, database, and web development applications, underpinned by an exceptional grasp of data storage and virtualization technologies. His proficiency in application testing, database administration, and data cleansing ensures seamless execution of complex projects.
What sets Denis apart is his comprehensive understanding of Business and Systems Analysis technologies, honed through involvement in all phases of the Software Development Lifecycle (SDLC). From meticulous requirements gathering to precise analysis, innovative design, rigorous development, thorough testing, and successful implementation, he has consistently delivered exceptional results.
Throughout his career, he has taken on multifaceted roles, from leading technical project management teams to owning solutions that drive operational excellence. His conscientious and proactive approach is unwavering, whether he is working independently or collaboratively within a team. His ability to connect with colleagues on a personal level underscores his commitment to fostering a harmonious and productive workplace environment.
Date: May 29, 2024
Tags: Information Security, ISO/IEC 27001, ISO/IEC 42001, Artificial Intelligence, GDPR
-------------------------------------------------------------------------------
Find out more about ISO training and certification services
Training: ISO/IEC 27001 Information Security Management System - EN | PECB
ISO/IEC 42001 Artificial Intelligence Management System - EN | PECB
General Data Protection Regulation (GDPR) - Training Courses - EN | PECB
Webinars: https://pecb.com/webinars
Article: https://pecb.com/article
-------------------------------------------------------------------------------
For more information about PECB:
Website: https://pecb.com/
LinkedIn: https://www.linkedin.com/company/pecb/
Facebook: https://www.facebook.com/PECBInternational/
Slideshare: http://www.slideshare.net/PECBCERTIFICATION
Physiology and chemistry of skin and pigmentation, hairs, scalp, lips and nail, Cleansing cream, Lotions, Face powders, Face packs, Lipsticks, Bath products, soaps and baby product,
Preparation and standardization of the following : Tonic, Bleaches, Dentifrices and Mouth washes & Tooth Pastes, Cosmetics for Nails.
The simplified electron and muon model, Oscillating Spacetime: The Foundation...RitikBhardwaj56
Discover the Simplified Electron and Muon Model: A New Wave-Based Approach to Understanding Particles delves into a groundbreaking theory that presents electrons and muons as rotating soliton waves within oscillating spacetime. Geared towards students, researchers, and science buffs, this book breaks down complex ideas into simple explanations. It covers topics such as electron waves, temporal dynamics, and the implications of this model on particle physics. With clear illustrations and easy-to-follow explanations, readers will gain a new outlook on the universe's fundamental nature.
Thinking of getting a dog? Be aware that breeds like Pit Bulls, Rottweilers, and German Shepherds can be loyal and dangerous. Proper training and socialization are crucial to preventing aggressive behaviors. Ensure safety by understanding their needs and always supervising interactions. Stay safe, and enjoy your furry friends!
Executive Directors Chat Leveraging AI for Diversity, Equity, and InclusionTechSoup
Let’s explore the intersection of technology and equity in the final session of our DEI series. Discover how AI tools, like ChatGPT, can be used to support and enhance your nonprofit's DEI initiatives. Participants will gain insights into practical AI applications and get tips for leveraging technology to advance their DEI goals.
RPMS TEMPLATE FOR SCHOOL YEAR 2023-2024 FOR TEACHER 1 TO TEACHER 3
IBC_Webinar-ppt_14.08.2020_FINAL.pdf
1. “IBC- Current Developments and
Road Ahead from Ease of Doing
Business to Economic Growth
Presented By:
Mr. Pavan Kumar Vijay
Past President- ICSI
Founder- Corporate Professionals
2. 7
8
9
1
12
Timeline
2014 2015 2016
2016
August 2014
Bankruptcy Law
Recovery Committee
was formed.
05 May 2016 - Passed by
Lok Sabha
11 May 2016- Passed by
Rajya Sabha
28 May 2016- Received
President’s accent
01 Dec 2016 - IBC came in
to effect.
Nov 2015 - Draft bill
submitted by BLRC
Dec 2015 - IBC Bill was
introduced in Lok
Sabha
3. 1
2
3
4 5
5
Major changes in IBC
Eligibility of resolution applicant for submitting resolution plans (barring defaulting
promoters to bid for the company)– Section 29A
Voting threshold for decision making by the committee of creditors (from 75% to 66%)-
Section 21, 22, 27, 28
Categorization of Home Buyers as Financial Creditors and thereby threshold limit for filing
application i.e. 10% of total no. or 100 in no. under same real estate project - Section 5(8)
Applicability of Limitation Act on the Insolvency and Bankruptcy Code - Section 238A
Withdrawal of an application by COC having approval of 90% – Section 12A
4. 6
7
8
9 5
10
Major changes in IBC
Allowing comprehensive corporate restructuring through merger, amalgamation and
demerger under a resolution plan & Liquidation- Section 2(26) and Regulation 37 of CIRP
Resolution plan shall be binding on the all stakeholders including the Central Government, any
State Government- Section 31
Manner of distribution of amounts amongst financial and operational creditors under
Resolution Plan- Section 30
Timeline for completion of CIRP increased to an overall limit of 330 days- Section 12
Corporate Debtor cannot not be prosecuted for any offence committed prior to
commencement of the CIRP, if a resolution plan has been approved by the NCLT- Section 32A
6. ❑ Resolution plan is not approved by requisite percent of voting share of the financial creditors
within the statutory period of 270 days, it is liable to be liquidated. – SC
❑ Only in exceptional cases over all limit of 330 days can be extended. - SC
❑ NCLT & NCLAT have no jurisdiction /authority to analyse or evaluate commercial decisions
of COC- SC
❑ The role of RP under IBC is administrative and not adjudicatory - SC
7. ❑ Fair and equitable treatment of operational creditors means that a resolution plan should
protect their interests but it did not mean proportionate payment of debts. – SC
❑ RBI issued circular directing banks for initiating CIRP against companies. In all the cases
where banks have initiated CIRP due to said circular, all such cases are declared non est in
law. RBI circular declared ultra vires as whole- SC
❑ NCLT on receipt of a rejected resolution plan is not expected to do anything more but is
obligated to initiate liquidation process against the corporate debtor- SC
❑ For effective participation of directors in the meetings of COC, directors are entitled to
receive copy of relevant documents including the insolvency resolution plans- SC
8. ❑ Once a resolution plan is approved by the CoC, it shall be binding on all stakeholders, including
the guarantors. The resolution plan would therefore limit the guarantor's right of subrogation
towards the creditor – SC
❑ Corporate Debtor cannot not be prosecuted for any offence committed prior to
commencement of the CIRP, If A Resolution Plan Has Been approved by the NCLT- HC
❑ The NCLT has power and authority to pass an interim order to direct moratorium period over
the corporate debtors if there is an apprehension of the selling off of the assets of the
Corporate Debtor by its directors– NCLAT
❑ Exit route u/s 12A of the Code (i.e. for withdrawing the application) is only provided to the
applicants invoking section 7,9,10 of the Code and not applicable to the resolution applicant.-
NCLAT
9. 7
8
9
1
12
Journey so far..
Appeal/Reviewed, 312
Withdrawn, 157
Resolved, 221
Liquidation, 914
CIRP on going ,
2170
Appeal/Reviewed Withdrawn Resolved Liquidation CIRP on going
3774 Companies under CIRP
As on March 2020
Source IBBI
58%
8%
4%
6%
24%
10. Top 12 Defaulters
Resolution
Source IBBI
S.no. Name of CD Successful Resolution applicant Amount
Admitted
(in cr)
Amount
Realised
(in Rs cr)
% of Claims
Released
1 Electrosteel Steels Limited Vedanta Limited 13175 5320 40.38
2 Bhushan Steel Limited Bamnipal Steel Limited 56002 35571 63.50
3 Monnet Ispat & Energy
Limited
Consortium of JSW and
AION Investments Pvt. Lt
11015 2892 26.26
4 Essar Steel India Limited Arcelor Mittal India Pvt Limited 49473 41018 82.91
11. Top 12 Defaulters
Resolution
Source IBBI
S.n
o.
Name of CD Successful Resolution applicant Amount
Admitted
(in cr)
Amount
Realised
(in Rs cr)
% of Claims
Released
5 Alok Industries Limited Reliance Industries Ltd., JM
Financial Asset Reconstruction
Company Ltd.
29523 5052 17.11
6 Jyoti Structures Limited Group of HNI led by Mr Sharad
Sanghi
7365 3691 50.12
7 Jaypee Infratech Limited NBCC (India) Ltd 23176 23223 100.20
8 Bhushan Power and steel
Limited
JSW Ltd. 47158 19350 41.03
12. Top 12 Defaulters
Source IBBI
Amtek Auto Limited
Under CIRP Under Liquidation
Era Infra Engineering Limited
Lanco Infratech
ABG Shipyard Limited
14. 7
8
9
12
Ease of Doing Business in India
According to the Ease of Doing Business Report 2020, India’s
overall ranking has improved by 67 places to 63rd position among
190 countries since the inception of the Code.
With this India earned a place among the world’s top ten
improvers in ease of doing business, for the third consecutive
year
The Code has improved the India’s ease of doing business’s
ranking and also has resulted in better realization of dues by the
creditors.
2016
2017
2018
2019
130
100
77
63
15. Ease of Doing busines in India and role of ‘resolving insolvency’ parameters
Source: Economic Survey Report 2020
Particulars 2016 2017 2018 2019 2020
Rank in
Resolving
Insolvency
136 136 103 108 52
Time (yrs) 4.3 4.3 4.3 4.3 1.6
Recovery
Rate (Cents in
dollar)
25.7 26 26.4 26.5 71.6
16. COVID Related Amendments
Enhancement of
minimum default
limit from Rs. 1 lakh
to Rs. 1cr
Suspension of Fresh
Insolvency
Proceedings for Six
months (from
25.03.2020) which
may be extended to
1 year
No application shall
ever be filed for the
defaults occurred
i.e. on or after
25.03.2020 (for Six
months which may be
extended to 1 yr)
18. 01
Insolvency of borrowers who have assets or creditors in
different jurisdictions, or are subject to insolvency
proceedings in multiple jurisdictions.
02
03
Infographic Style
Cross Border Insolvency
Currently, only section 234 and 235 of the Code deal with
cross border having limited scope. Separate Framework
dealing with Cross Border Insolvency is yet to come.
• Cross-border provision will empower foreign creditors
to claim assets on insolvent Indian companies and vice
versa.
• Ease in Resolution
• M&A outlook in India to improve
• Boosts Investor’s confidence
Meaning
Existing Provisions/
Development
Impact
19. 01
A pre package insolvency is a pre planned process in which
financially distressed company and its creditors reach an
agreement with a buyer for its sale prior to initiating CIRP.
02
03
Infographic Style
Pre Package Insolvency
Currently, there is no provision under the Code dealing with
pre package insolvency. Separate Framework dealing with
pre package insolvency is yet to come.
• It will promote early debt restructuring in a manner that
best achieves the Code's objectives.
• Offer a chance to debtor company to revive the
company while negotiating with creditors.
• Management to put genuine efforts for revival
• Continuity of business
Meaning
Existing Provisions/
Development
Impact
20. 01
Under this framework, MSMEs themselves will be able to
apply to initiate bankruptcy proceedings through this
mechanism.
02
03
Infographic Style
Insolvency Resolution Framework MSME
Currently, Section 240A of the Code deals with MSME
where exception is granted form section 29A (barring
promoters to bid for company). Separate Framework
dealing with resolution of MSME is expected to come soon.
• Follow “debtor in control” model while ordinarily the
corporate insolvency resolution process follows a
“creditor in control” system.
• No change in control
• Self restructuring plan
Meaning
Existing Provisions/
Development
Impact
21. 01
A debtor or creditor can file for Insolvency Resolution and
upon failure on resolution, Bankruptcy proceedings can be
initiated.
02
03
Infographic Style
Individual Resolution and Bankruptcy for Individual
Currently, Section 94- 148 of the Code deals deal with the
Individual Resolution and Bankruptcy . Provisions in respect
of personal guarantors are enforce however with respect to
Individual and partnership are not yet enforced.
Poor frameworks for recovery have had an adverse impact
on the credit market, notifying individual insolvency
provisions will bring financial discipline in the people as
well.
Meaning
Existing Provisions/
Development
Impact
22. 7
25 March 2020
12
Post Covid scenario
For any default prior to 25.03.2020
• Financial discipline improve
• Chances of Settlement might increase
• Increase in reserve cash
Action can be taken
anytime (within
limitation)
For any default on or after to 25.03.2020 for
six months (which may be extended to 1yr)
No action can be taken
during entire lifetime
• Cost cutting , check on overheads
• Changes in Business Model
• Business to reach Optimum level