This book focuses on detailed commentary on Corporate Insolvency Resolution Process and Liquidation and does touch upon fast track process, voluntary liquidation, Insolvency of Financial Service Providers and Personal Guarantors.
Though the Insolvency and Bankruptcy Code, 2016 forms the nucleus, the research focuses on CIRP and Liquidation processes.
In brief, this is a practical book on the subject which aims at being the handbook for those who deal with corporate Insolvency process.
As stated earlier, the code needs to be read with regulations to gain insights on each sub process which together combine and procreate the entire ecosystem. Every chapter of this book furnishes a table showing sections of the code featuring and coordinates the same with corresponding regulations as well as rules analogous thereto (if any).
Insolvency and Bankruptcy Code 2016 has flourished to become one of the most dependable commercial regime thanks to multiple landmark judgements that have expanded the dynamics to develop in to a comprehensive legal system and thus, no research work with regard to IBC can possibly blossom without reference to case laws. This book includes various important case verdicts since inception of the Code till end of June 2020.
Division – I is divided in 6 parts and has covered Detailed Commentary on Corporate Insolvency Resolution Process, Liquidation, Fast Track Corporate Insolvency, Voluntary Liquidation and other relevant topics.
Division - II has covered the relevant Forms related to CIRP, Liquidation & Voluntary Liquidation and Rules & Regulations, Forms related to Fast Track Corporate Insolvency, Personal Guarantors to Corporate Debtors and Insolvency & Liquidation Proceedings of Financial Service Providers.
This book compiles detailed research work on Corporate Insolvency Resolution Process and Liquidation Process (including Voluntary Liquidation).
Besides sections contained in the Insolvency and Bankruptcy Code, the book also furnishes rules contained in Insolvency and Bankruptcy (Application to Adjudicating Authority) Rules, 2016, regulations of Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 and Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016.
Chapters of the book move according to process involved in CIRP and Liquidation and accordingly, besides sections of I & B Code furnishes corresponding IB(AAA) Rules, CIRP regulations / Liquidation process regulations. This will enable the reader to obtain a clear view of each process.
Book is updated with all amendments, announcements, ordinances etc up to end of June, 2020.
The book has covered the judgements from Supreme Court, High Courts, NCLAT and Various NCLT Benches, till date and also included a Table of all the case laws
Equal emphasis has been applied to chapters relating to ‘Definitions’ as the same constitute pillars on which the entire insolvency process framework is built upon.
Sections pertaining to preferential, undervalued, extortionate transactions as well as fraudulent transactions have been explained vividly. Sections pertaining to offenses and penalties have also been dealt with.
Detailed analysis on Adjudicating Authority, its jurisdiction and powers have been included in this book.
Miscellaneous Provisions related to Corporate Insolvency Process which comprises of sections from 225 to section 255 has been explained in detail and enriched with relevant case laws.
This book also furnishes glimpse of Fast Track Corporate Insolvency Process and Voluntary Liquidation of Corporate Persons.
Insolvency and Bankruptcy (Insolvency and Liquidation Proceedings of Financial Service Providers and Application to Adjudicating Authority) Rules, 2019 is featuring in the book.
This book also details rules and regulations relating to insolvency and bankruptcy of Personal Guarantors to Corporate Debtors.
Attempt has been made to include all applicable Forms to add comprehensiveness to the book.
This is a must have book for Insolvency Professionals, Registered Valuers, Corporate Lawyers, Corporates and other Professionals having interest in IBC, 2016.
Soumitra Lahiri has nearly four decades of professional experience which includes over two decades of overseas exposure. He has worked in various types of industries and held senior level positions in multiple business houses both in India and abroad.
Rehabilitation of financially distressed units has been one of the core areas of expertise of Mr. Lahiri.
Author became an Insolvency Professional in the year 2017 and has been involved with number of insolvency as well as liquidation matters in the capacity of Resolution Professional / Liquidator.
Soumitra Lahiri, promoted a firm by the name LNB Insolvency Professionals LLP which facilitates advisory services on insolvency matters as well as provides support services pertaining to CIRP and Liquidation Process.