Bankruptcy and Insolvency Law

Unit 1 — Introduction:

1. Historical perspectives of insolvency and bankruptcy laws · 2. Need, objects and application of the Code · 3. Definitions of the terms: claim, charge, corporate person, corporate debtor, core services, creditor, debt, default, financial information, financial institution, financial product, financial service, financial sector regulator, insolvency professional, person, property, security interest · 4. Concepts of - insolvency and bankruptcy, debtors and creditors

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

Unit 2 — Insolvency Resolution and Liquidation Process for Corporate Persons:

1. Corporate insolvency resolution process · 2. Liquidation process · 3. Fast track Corporate Insolvency Resolution Process

• CIRP
• Fast track CIRP
• Liquidation Process

Unit 3 — Insolvency Resolution and Bankruptcy for Individuals and Partnership Firms:

1. Insolvency resolution process · 2. Bankruptcy order for individuals and partnership firms · 3. Administration and distribution of the estate of the bankrupt

• 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 4 — Authorities under the Code:

1. Insolvency and Bankruptcy Board of India · 2. Powers and functions of the Board · 3. Insolvency Professional Agencies · 4. Information utilities · 5. Inspection and investigation

• IBBI
• Insolvency Professional Agencies
• Information Utilities

Unit 5 — Adjudicating Authorities under the Code:

1. Adjudicating Authorities for Corporate Persons · 2. Adjudicating Authorities for Individuals and Partnership Firms · 3. Appeals

• Adjudicating Authorities and Appellate Authorities
• Adjudicating authorities and appellate authorities
• Appeal and revision

Unit 6 — Insolvency and Bankruptcy Code vis-à-vis Other Legislations:

1. The Companies Act, 2013 · 2. The Sick Industrial Companies (Special Provisions) Repeal Act, 2003 · 3. The Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 · 4. The Recovery of Debts Due to Banks and Financial Institutions Act, 1993 · 5. The Presidency Towns Insolvency Act, 1909, and the Provincial Insolvency Act, 1920

• IBC to override other laws

Unit 7 — Offences and Penalties for Contravention of the Provisions:

1. By the debtor · 2. By the creditor · 3. By the bankrupt

• Offences and Penalties
• Offences and Penalties under Part III of IBC

Unit 8 — Cross Border Insolvency:

1. UNCITRAL Model Law on Cross Border Insolvency · 2. World Bank Principles for Effective Insolvency and Creditor Rights · 3. Asian Development Bank Principles of Corporate Rescue and Rehabilitation