The Issue and Statutory Framework An Application for initiating Corporate Insolvency Resolution Process [“CIRP”] against the Corporate Debtor, can be filed under Section 7, 9 or 10, as the case may be, of the Insolvency and Bankruptcy Code, 2016 [“the Code”] before the National Company Law Tribunal [“NCLT”]. However, at what date, can an Application… Continue reading Initiation vs Commencement: Understanding ‘Pendency’ under Section 60(2) of the IBC
Tag: NCLT
Scope of Inherent Powers of NCLT/NCLAT vis-à-vis Section 12A of IBC
The Insolvency and Bankruptcy Code, 2016 [“IBC”] was enacted to bring the insolvency law in India under a single unified umbrella with the object of speeding up of the insolvency process in a time bound manner. Prior to the introduction of IBC, various other Acts, viz. Sick Industrial Companies (Special Provisions) Act, 1985; the Recovery… Continue reading Scope of Inherent Powers of NCLT/NCLAT vis-à-vis Section 12A of IBC