Tranzission Blogs
328articlesInsights and guides on tax, compliance, and business strategy from Tranzission.
Recovery of Debts and Bankruptcy Act, 1993 – Bare Act
Banks and financial institutions also need a mechanism to recover debts efficiently, which the Recovery of Debts and Bankruptcy Act, 1993 (“the RDBA”) provides. It also offers borrowers a framework for resolving debt issues, although ti can also lead to stricter enforcement of debt obligations. Therefore, the RDBA is crucial for the stability of the […]
Read moreTransfer of Property Act, 1882 – Section-Wise Bare Act
The Transfer of Property Act of 1882 (hereon forward known as “the Act”) is a key Indian law that regulates the transfer of property, both movable and immovable. It mainly focuses on immovable property and ensures transparency, protects parties involved, and regulates legal formalities in property transactions. It covers various types of property transfers, including […]
Read moreSection 11 of IBC – Persons Not Entitled to Make Application
Section 11 of IBC deals with ‘Persons not entitled to make an application’. This provision restricts who can initiate a Corporate Insolvency Resolution Process (CIRP), preventing a corporate debtor undergoing or recently having completed CIRP, or one who has violated a resolution plan, from initiating a new one. What is the purpose of Section 11 […]
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IBC Section 30 – Submission of Resolution Plan
The Insolvency and Bankruptcy Code, 2016 (IBC) ensures that a financially distressed company can be revived, restructured, or rehabilitated, while also focusing on maximizing the value of the corporate debtor’s assets. It essentially provides a mechanism to resolve the corporate debtor’s insolvency and its inability to clear off creditor debts. There are many stakeholders involved […]
Read moreAdjudicating Authority for Corporate Persons
What is an Adjudicating Authority Under IBC? The Adjudicating Authority under the IBC is responsible for handling insolvency and liquidation proceedings for corporate persons, including companies and limited liability partnerships (LLPs). It ensures that insolvency cases are conducted as per the provisions of the IBC while protecting the interests of all stakeholders. Designation of NCLT […]
Read moreSection 31 of RERA – Filing of Complaints with the Authority or Adjudicating Officer
The Real Estate (Regulation and Development) Act, 2016 (hereon forward known as “Section 31 of RERA”) provides a platform to file complaints and seek redressal for issues with developers, ensuring transparency and accountability in the real estate sector. It primarily aims to reduce project delays by ensuring developers adhere to timelines and provide timely updates […]
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Section 4 of Negotiable Instruments Act
When a company or individual becomes insolvent, when they cannot meet their financial obligations, they enter insolvency proceedings. Creditors have to file their claims with the Adjudicating Authority, the National Company Law Tribunal (NCLT). These claims, including those based on promissory notes, are then assessed and ranked according to their priority for payment. Promissory notes […]
Read moreManaging the Insolvency of Family Owned Businesses
Family-owned businesses are based on relational resources like trust, communication, and a shared vision of success among all members. It allows all members of the company to participate in important decisions and its growth. The Insolvency of Family Owned Businesses has several factors that are significantly different from other companies or firms. This article elaborates […]
Read moreUnderstanding Section 22 of RERA
Section 22 of RERA mandates that the RERA Authority’s Chairperson and Members be appointed based on specific professional qualifications and expertise. Its purpose is to ensure that individuals leading RERA have strong legal, financial, and regulatory knowledge to protect consumer rights and manage real estate disputes effectively. The Chairperson and other Members of the Authority […]
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Section 104 – Preparation of List of Creditors
Section 104 of Committee of Creditors (CoC), comprising of financial creditors, plays a vital role in the resolution process under the Insolvency and Bankruptcy Code, 2016 (IBC). The list of creditors is essential for forming this committee, as it determines who has the right to participate in decision-making and voting on the resolution plan. Essentially […]
Read moreSection 148 of negotiable instrument act
Section 148 of negotiable instrument act, of 1881 (NI Act) addresses the situation where someone appeals a conviction under section 138: Overview of Section 148: Section 148 of negotiable instrument act was introduced through the Negotiable Instruments (Amendment) Act, 2018 and empowers the Appellate Court to direct the convicted person to deposit up to […]
Read moreCIRP Regulation 39D of IBBI Regulations, 2016
The Insolvency and Bankruptcy Board of India (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 (hereon forward known as “the CIRP Regulations”) and the Insolvency and Bankruptcy Code, 2016 (“ the IBC”) outline the process for resolving corporate insolvency. When the resolution plans are not successful, the process goes to liquidation. The Adjudicating Authority then […]
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