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NPTEL

Insolvency and Bankruptcy Law in India

NPTEL via Swayam

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Overview

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ABOUT THE COURSE:The enactment of Insolvency and Bankruptcy Code in 2016 has renewed the vigor of the law relating to insolvency in India with a special emphasis on the handling non-performing assets crisis. The Main aim of IBC is to maximize the realization of assets, which is tried to achieve through Corporate Insolvency Resolution process which is Creditor Centric. The Legislation also has the fixed timeline within which the CIRP process needs to be completed. Failing which the company will be liquidated under the Legislation.This Course dwells upon the Importance of IBC and legal intricacies involved in resolution Process and Liquidation ProcessINTENDED AUDIENCE: Students, Law Graduates, Corporate Professionals etc.PREREQUISITES: Basic Understanding of Corporate Laws

Syllabus

Week 1: Introduction and History of Insolvency Laws
  • Insolvency-Concept and Evolution
  • Historical Background of Insolvency law in UK and India

Week 2:Insolvency of Corporates under Old Regime
  • Provisions under Companies Act, 1956
  • Sick Industrial Companies Act, 1985, BIFR
  • Various Committees Reports on Insolvency Laws

Week 3:Insolvency and Bankruptcy Code
  • Applicability of IBC and Definitions
  • Who may Initiate CIRP

Week 4:Initiation of CIRP
  • Initiation of CIRP by Financial Creditor
  • Initiation of CIRP by Operational Creditor
  • Initiation of CIRP by Corporate Debtor

Week 5:Commencement of CIRP
  • Moratorium
  • Committee of Creditors and their Meetings
  • Voting by CoC

Week 6:CIRP Process
  • Contents of Information Memorandum
  • Submission of Resolution Plan and Resolution Applicants
  • Approval Resolution Plan by Adjudicating Authority

Week 7:Authorities and Agencies under IBC
  • Law relating to Insolvency Professionals
  • Insolvency Professional Agencies
  • Information Utility
  • IBBI Functions, Duties and Powers

Week 8:
  • Fast Track Resolution Process
  • Pre-Packed Insolvency Resolution Process

Week 9:Liquidation of Corporate Person
  • Liquidation order by NCLT
  • Appointment and Replacement of Liquidator

Week 10:Liquidation process
  • Rights and Duties of Liquidator
  • Public Announcement, Claims & reports in Liquidation
  • List of Stakeholders, Constitution of Stakeholders
  • Consultation of Committee, Its meetings & Powers

Week 11:Avoidance of Transactions
Week 12:
  • Sale in Liquidation
  • Distribution in Liquidation

Taught by

Prof. A Sridhar

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