Tag: Bankruptcy

APPLICABILITY OF THE LAW OF LIMITATION TO PROCEEDINGS UNDER INSOLVENCY AND BANKRUPTCY CODE (IBC)

October 24, 2020

Law governing insolvency, liquidation and reorganisation has seen a paradigm shift with the enactment of the Insolvency and Bankruptcy Code (”the Code” or IBC for short). The fundamental change in approach to the law relating to insolvency and reorganisation of defaulting or non performing business entities is aimed at maximising value of assets, promote entrepreneurship,…
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NOTIFICATION DATED 24th MARCH 2020 OF MINISTRY OF CORPORATE AFFAIRS ENHANCING THRESHOLD OF DEFAULT TO OPERATE PROSPECTIVELY

October 20, 2020

With the imposition of nationwide lockdown due to the COVID-19 pandemic, the central government felt that small to medium enterprises may not be able to meet the timelines for repayment of their loans thereby getting dragged in insolvency and resolution proceedings under the IBC. To address this concern the central government in exercise of powers…
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