Tranzission Blogs
328articlesInsights and guides on tax, compliance, and business strategy from Tranzission.
What is the Information Memorandum under IBC?
As per the Insolvency and Bankruptcy Code, 2016 and the relevant regulations, an Information Memorandum under IBC is a comprehensive document drafted by the resolution professional that contains all the relevant information of the corporate debtor to be conveyed to potential buyers and investors. This document also assists the insolvency professional in preparing the resolution […]
Read moreUnderstanding the Interplay of IBC and SEBI Regulations
The Insolvency and Bankruptcy Code, 2016 (IBC) and the Securities and Exchange Board of India (SEBI) Act are both important pieces of legislation in India that regulate different aspects of the financial markets. There have been some conflicts between the IBC and SEBI Regulations Act, such as when the SEBI wants to recover money from […]
Read moreLimitation in filing appeal under the IBC
The main aim of the Insolvency and Bankruptcy Code, 2016 (IBC) is to resolve the financial issues of the corporate debtor in a time-bound manner. Section 61 of the IBC provides the statutory right to appeal against the order of the Adjudicating Authority. Under this section, the Limitation in filing appeal under the IBC can […]
Read moreAdvancing CIRP Fraud Detection in Public Sector Entities
Fraudulent practices may impede economic growth, exacerbate income inequality, increase the cost of government services, and lower trust in government, among other consequences. Public sector entities need to adopt advanced CIRP Fraud Detection methods as they allow them to safeguard the general public, maintain their trust, improve the efficiency of their operations, and stay ahead […]
Read moreDispute and Existence of a Dispute under IBC
The object of the insolvency framework in India, at least so far as operational creditors are concerned, is to initiate the insolvency process against the corporate debtor only in clear cases where a real dispute between the parties regarding the debt owed did not exist. The Insolvency and Bankruptcy Code, 2016 (IBC) was not intended […]
Read moreWhat are the consequences of non compliance with the IBC regulations?
Insolvency laws in India have strict regulations regarding document submission, the responsibilities of insolvency professionals, actions of all stakeholders, legal requirements, and procedural necessities. Failing to non compliance with IBC regulations has several consequences, such as monetary penalties and possible imprisonment. Understanding Section 186 of the Companies Act Section 186 of the Companies Act, 2013 […]
Read moreRole of IBC in Corporate Governance
The platform of a robust business environment is having effective corporate governance. Since its establishment, Role of IBC in Corporate Governance Insolvency and Bankruptcy Code, 2016 (IBC) has had a significant impact on reviving, restructuring, or rehabilitating companies in financial distress. In addition to this, it has emerged as a vital instrument in advanced corporate […]
Read moreSection 81 of IBC – Insolvency and Bankruptcy Code, 2016
Companies facing financial distress should be aware of all options available to them under the Insolvency and Bankruptcy Code, 2016 (“the IBC”), to potentially seek relief. Understanding the fresh start process under section 81 of IBC provides individual debtors an opportunity to restructure their debts and start on a clean slate. The introduction of Section […]
Read moreHandling Disputed Claims During CIRP
Under the Insolvency and Bankruptcy Code, 2016 (IBC), a “claim” encompasses any right to payment, whether it is fixed, disputed, or unsecured. Handling Disputed Claims can occur due to disagreements over contract terms, quality of goods or services delivered, non-payment of invoices, or other contractual issues between stakeholders. Several landmark cases under the IBC have […]
Read moreAddressing Grievances and Complaints under IBC
The Insolvency and Bankruptcy Code, 2016 (the IBC) and the Insolvency and Bankruptcy Board of India (Grievances and Complaints under IBC Handling Procedure) Regulations, 2017 (hereon forward known as “the IBBI Grievance and Complaint Handling Procedure Regulations, 2017”) provides for grievance redressal and enforcement framework for the service providers. Having a robust grievance redressal system […]
Read moreKey Lessons from the EU Cross-Border Insolvency Regulations
In 2015, the primary framework for cross-border insolvency in the EU Cross-Border Insolvency Regulationswas introduced. This framework is largely based on the UNCITRAL Model Law on Cross-Border Insolvency, which provides a system for recognising and cooperating between courts in different jurisdictions when dealing with insolvent debtors with assets in multiple countries. The main aim of […]
Read moreFunctions of Insolvency Professional Agencies in India
Insolvency and bankruptcy laws were consolidated in 2016 through the Insolvency and Bankruptcy Code, 2016. Insolvency Professional Agencies was established under this act and plays a crucial role in regulating and overseeing the conduct of insolvency professionals. This ensures that professionals handling financially distressed companies maintain high ethical standards, possess the necessary expertise, and act […]
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