IMPORTANT DATES

Prior to the institution of the Insolvency and Bankruptcy Code, 2016, there were various overlapping laws and policies dealing with financial failure and insolvency of corporate institutions in India. The absence of structured timelines put undue stress on the Indian credit system. With a view to undertaking reforms and improving the business environment, the government introduced the Insolvency and Bankruptcy Code, 2016. The Code provides a robust legal framework, which aims to bring long-term reforms in line with global economic laws prevalent in advanced jurisdictions.

As a practising lawyer, it is essential to understand the nuances of this Code, which will further help you to understand the Corporate Insolvency Resolution Process. This course aims to keep you abreast with the Code, which has brought a paradigm shift in the insolvency resolution process. This course will be your guide in initiating the corporate resolution process as well as help in the filing of insolvency applications before the National Company Law Tribunal. This course is a practical guide for those preparing for the IBC practitioner exam.

This course is vital if you are a practising lawyer or transactional lawyer. If you belong to the real estate, banking, legal, finance or insurance industry, knowing IBC is a sine qua non for survival.

This course, in simple and clear language, explains to you, the fundamentals and structure of IBC.

Join us on this journey to understand the framework of the Insolvency and Bankruptcy regime under the IBC, 2016.

In this course you’ll learn to:

• Understand the concept of corporate insolvency and pre-packaged insolvency
• Differentiate between financial and operational debt
• Examine and differentiate between the different types of creditors
• Understand the changes brought about in the Insolvency process after the implementation of the Code
• Look at the process of initiation of the insolvency process
• Understand the liquidation process

1. Introduction
1.1 Introduction
I. Full text of leading cases

2. Understanding the objectives and key terms under the IBC
I. Relevant sections
2.1 Insolvency and bankruptcy
2.2 Operational debt
2.3 Financial debt
2.4 Creditor
2.5 Financial creditor and operational creditor
II. Examination pointers
III. Full text of leading cases

3. The IBC ecosystem
I. Relevant sections
3.1 Insolvency regulator and adjudicating authorities
3.2 Insolvency professional
3.3 Insolvency professional agency
3.4 Information utility, financial information
II. Examination pointers

4. Initiating the corporate insolvency process
I. Relevant sections
4.1 Triggers for Corporate Insolvency Resolution Process (CIRP)
4.2 Who can initiate the CIRP?
4.3 Who cannot file a CIRP application?
4.4 Where to file a CIRP initiation petition?
4.5 Procedure before the NCLT
4.6 Moratorium
4.7 Timelines for the resolution process
II. Examination pointers
III. Full text of leading cases

5. Resolution process
I. Relevant sections
5.1 Committee of creditors
5.2 Voting share
5.3 Resolution applicant
5.4 Submission and approval of resolution plan
II. Examination pointers
III. Full text of leading cases

6. Liquidation
I. Relevant sections
6.1 Initiation of liquidation
6.2 Waterfall mechanism
II. Examination pointers

7. Pre-packs
I. Relevant sections
7.1 Introducing pre-packs
7.2 Eligibility for PPIRP
7.3 Pre-initiation phase
7.4 Application for initiation of PPIRP
7.5 Post-initiation phase
7.6 Approval of resolution plan
7.7 Closure of PPIRP
II. Examination pointers

I. Exercises
Exercise Set I
Exercise Set II
II. INDEX (FULL TEXT OF CASES)
INDEX: Full text of cases