The Insolvency and Bankruptcy Code (IBC) was enacted in 2016 to provide a legal framework for the resolution of insolvency and bankruptcy cases in India. While the IBC was primarily designed to address the concerns of lenders and creditors, it also provides some relief to home buyers who have invested in under-construction projects that have…
If you have investments in a business and are afraid of losing the investment then you should know about the Insolvency Resolution. The Insolvency and Bankruptcy Code (IBC), 2016 provides a time-bound process to resolve insolvency. The Code outlines separate insolvency resolution processes for individuals, companies and partnership firms. The code aims to protect the…
If you are running your own business and want to dissolve it then, voluntary liquidation may be the best option. In business, sometimes things don’t work out as we plan. Sometimes, we need to cut our losses and start fresh. In India, bad debts keep on increasing. Further, among total bad debt corporate bad debt…
On 4th April 2021, the Centre issued an ordinance to introduce pre-packaged insolvency for corporates classified as MSMEs. The Pre-Package Insolvency Resolution Process is aimed at reviving MSMEs by submitting Base Resolution Plan along with the other data by the MSME itself. Since MSMEs are pretty critical for the economy of India, the government considered…