Law of Insolvency and Bankruptcy (Optional)

Unit I — INTRODUCTION TO INSOLVENCY LAW

Concepts of “Insolvency” and “Bankruptcy” AND Tests for determining insolvency · Roots and Key objectives of Insolvency and Bankruptcy Resolution Laws · History and framework of Insolvency and Bankruptcy Law in India · Introduction to Insolvency and Bankruptcy Code, 2016 · Institutional Infrastructure under IBC (The Board, IPA, NCLT, IU)

• Historical background and constitutional allocation of the subject of insolvency and bankruptcy
• Preliminary under IBC
• Application of IBC
• Definitions under IBC

Unit II — RESOLUTION OF CORPORATE INSOLVENCY

Applicability and Relevant Definitions · Procedure of application and Moratorium · Role and Functions of Resolution Professionals · Corporate Insolvency Resolution Process · Role of Adjudicating Authority in CIRP · Fast Track CIRP and Pre-packaged CIRP

• CIRP
• Fast track CIRP
• Prepackaged Insolvency Resolution Process
• Adjudicating Authorities and Appellate Authorities

Unit III — LIQUIDATION

Moving from Resolution to Liquidation · Appointment, powers, and duties of liquidator · Liquidation estate, Liquidation Process and Distribution of assets · Vulnerable/Avoidable transactions · Voluntary Liquidation

• Voluntary Liquidation Process
• Liquidation Process

Unit IV — INDIVIDUAL INSOLVENCY

Individual Insolvency under the Insolvency Act(s) · Individual Insolvency under IBC · Application and Resolution Processes · Bankruptcy order and its consequences

• Fresh Start process for individuals and partnership firms
• Insolvency resolution process for individuals and partnership firms
• Bankruptcy order in respect of individuals and partnership firms
• Administration and Distribution of assets of the Bankrupt

Unit V — CROSS-BORDER INSOLVENCY

Cross Border Insolvency- introduction and overview · Letter of request to a country outside India in certain cases · Insolvency Law Committee Report on Cross-Border Insolvency · UNCITRAL Model Law on Cross-Border Insolvency (1997) – key highlights