Law of Insolvency and Bankruptcy

Unit I — Introduction To Insolvency and Bankruptcy Regime in India

Historical Background of Insolvency Resolution in India., Need for Insolvency and Bankruptcy Code, Exploring the rational and objectives of the Code, Salient Features of the Insolvency and Bankruptcy Code, 2016, Companies Act, 2013- Drawing the interface, Companies and Recovery of Debt.

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

Unit II — Adjudicating and Appellate Authorities and Enforcement Mechanism in IBC

Role of the Insolvency and Bankruptcy Board of India (IBBI), Role of Information Utilities, Role of Insolvency Professional Agencies and Insolvency Professionals, Professional and Ethical Practices for Insolvency Practitioners, Role of Adjudicating Authorities and their Inherent Powers under the Code, Appeals and Appellate Authority under the IBC.

• IBBI
• Insolvency Professional Agencies
• Insolvency Professionals
• Information Utilities
• Adjudicating Authorities and Appellate Authorities

Unit III — Corporate Insolvency Resolution Process (CIRP)

Initiating and application for Resolution, Appointment of Resolution Professional, Moratorium and Public Announcement, Role and Duties of Interim Resolution Professional, Committee of Creditors: Powers, Duties, Voting and Approval, Submission of resolution plan to the NCLT, Adjudication of the resolution plan by the NCLT, Consequences of approval of resolution plan, Consequences of rejection of resolution plan, Bird’s eye view of timelines under IBC.

• CIRP

Unit IV — Fast Track CIRP

Concept of Fast Track CIRP in India, Legal Framework, Initiation, Conduct and Conclusion of Process, Time period for completion.

• Fast track CIRP

Unit V — Liquidation Process

Initiation of Liquidation, Moratorium, Directors and employees, Liquidator and Fees, Power and Duties of Liquidator, Role of CoC, Liquidation Estate, Distribution of Assets and Dissolution of Corporate Debtor.

• Liquidation Process

Unit VI — Insolvency Resolution and Bankruptcy for Individuals and Partnership Firm

Fresh start process, Insolvency Resolution Process for Individuals and Partnership firm, Role of IP in managing claims, Bankruptcy for Individuals and Partnership Firm.

• 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 VII — Group Insolvency and Cross-Border Insolvency

Framework dealing with Insolvency of Companies in Corporate Groups, Issues and Challenges in Group Insolvency in India, Applicability of IBC to Foreign Company, Cross Border Insolvency Framework, Foreign Assets, Liabilities and Operations, Structures Likely to trigger cross-border insolvency provisions, Emerging Trends and Practical aspects in Group Insolvencies and Cross-border Insolvencies.

Unit VIII — Emerging Issues and Global Developments in Law and Practice of IBC and

Interplay with other Debt Laws in India. Introduction, Intersection of Prevention of Money Laundering Act and IBC, Interplay of SARFAESI and other debt Laws with IBC, UNCITRAL model law and World Bank Principles for Effective Insolvency and Creditor’s Rights, Internation Perspectives and Emerging Global Trends.

• Securitisation and Reconstruction of Financial Assets and Enforcement of Securities Interest Act, 2002 (SARFAESI)