Sumant is a respected professional and his knowledge and understanding of insolvency law is well-recognised. He has long international experience. He commands full authority on the subject [and] his articulation of the economic, cultural and social dimensions of insolvency law will help readers in understanding theimpact insolvency law has on a nation’s market and society. [This] book on corporate insolvency is timely and serves many useful purposes.
–Extract from the Foreword by
Justice A.K. Sikri, Judge, Supreme Court of India
A comprehensive book by an eminent insolvency expert at this stage which explains key dimensions of new insolvency law based on best practices and experience in other jurisdictions, with simplicity and clarity, can serve timely and useful purpose for the stakeholders.
–Extract from the Additional Foreword by
Justice M.M. Kumar, President, National Company Law Tribunal
Decidedly the most authoritative and outstanding work on the subject, by an eminent insolvency expert. The book strives to serve two main goals: First, to provide a broad understanding of the principles of insolvency law and the ecosystem in which it functions while referring to the global best practices and experiences of advanced markets. Second, to serve as a guide for the insolvency professionals and other consumers of IBC.
It follow the scheme of corporate insolvency process in IBC, and the discussion with intersperced with subjects that may not be an explicit part of the statute, but which have a strong bearing on the outcome of the resolution and liquidation process.
Practitioners will benefit enormously from the valuable insights provided in this book.
Mr Sumant Batra has come up with this elaborate treatise on the Code. I am sure, it will be a great resource for practitioners, policy makers, researchers and academics to understand in detail the change that is in the offing.
–Extract from the Prologue by
Dr M.S. Sahoo, Chairperson, Insolvency and Bankruptcy Board of India
This is a very timely publication. With this publication, Sumant Batra proficiently explains the advantages of the Model Law and highlights the momentous opportunity India (a member of UNCITRAL since 1968) has, should it consider its adoption.
–Extract from the Message by
João RIBEIRO, Head, UNCITRAL Regional Centre for Asia and the Pacific
Sumant Batra is a leading global expert in the areas of bankruptcy, insolvency and corporate debt restructuring and has been at the forefront of developments in international insolvency for many years.
–Extract from the Message by
Mahesh Uttamchandani, Practice Manager, Fin. & Mkt. Global Practice, World Bank
Part I BACKDROP 1.India’s Tryst with Reforms 2.Global Developments 3. .Economic Rationale 4. .Related Laws 5. .Out Of Court Workouts
Part 2 INSTITUTIONAL FRAMEWORK 6.Regulator 7.Adjudicating Authority 8.Insolvency Professional Agencies 9.Insolvency Professionals 10.Information Utilities
Part 3 CORPORATE RESOLUTION 11.Concept of Corporate Rescue 12.Twilight Period 13.Commencement 14.Communication 15.Moratorium 16.Public Announcement 17.Resolution Professional 18.Valuation 19.Litigation Funding 20.Interim Finance 21.Claims 22.Committee of Creditors 23.Resolution Plan 24.Fast Track Resolution 25.Time Frame
Part 4 LIQUIDATION 26.Initiation 27.Liquidator 28.Claims 29.Liquidation Estate and Realisation 30.Distribution 31.Dissolution . 32.Voluntary Liquidation
Part 5 COMMON RESOLUTION AND LIQUIDATION ISSUES 33. Fraudulent, Wrongful, and Avoidance Transactions 34. Appeal
Part 6 CROSS-BORDER INSOLVENCY 35.Cross-Border Insolvency
Part 7 IMPLEMENTATION 36.Implementation
ANNEXURES 1. The Insolvency and Bankruptcy Code, 2016 2. The Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016 3. The Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 4. The Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016 5. The Insolvency and Bankruptcy Board of India (Insolvency Professional Agencies) Regulations, 2016 . 6. The Insolvency and Bankruptcy Board of India (Insolvency Professionals) Regulations, 2016 . 7. The Insolvency and Bankruptcy Board of India (Model Bye-Laws and Governing Board of Insolvency Professional Agencies)