Tranzission Blogs
328articlesInsights and guides on tax, compliance, and business strategy from Tranzission.
Repayment Plan Termination under Section 118 IBC
Personal insolvency and bankruptcy are primarily governed by Part III of the Insolvency and Bankruptcy Code, 2016 (IBC). This legal framework provides a structured approach for individuals unable to meet their debt obligations. A key mechanism for resolving individual financial distress without resorting to immediate bankruptcy is the repayment plna, which outlines a manageable strategy […]
Read moreUltimate Guide to the Limited Insolvency Examination in India
The Insolvency and Bankruptcy Code, 2016 (“the Code”) has fundamentally changed India’s insolvency landscape. With a consistent increase in Corporate Insolvency Resolution Process (CIRP) filings since 2016, the demand for qualified Insolvency Professionals (IPs) has risen dramatically. Unlike many other professions, insolvency practice in India is strictly governed by the Insolvency and Bankruptcy Board of […]
Read morePreferential Transactions Under IBC
In insolvency law, a preferential transaction is a transfer of property or interest by a corporate debtor to a creditor, surety, or guarantor that occurs during a financially distressed period. A transaction is considered preferential if it places the creditor, surety, or guarantor in a better position than they would have been under the pari […]
Read moreUndervalued Transactions under IBC
Insolvency law defines an undervalued transaction as a transfer of assets by a corporate debtor for significantly less than their value or without consideration, which typically occurs prior to insolvency. Such transactions are scrutinized because they deplete the insolvency estate, reducing the amount of assets available to pay creditors. Under Section 45 of the Insolvency […]
Read moreBest Insolvency Professional course in India
With Corporate Insolvency Resolution Process (CIRP) filings under the Insolvency and Bankruptcy Code, 2016 (IBC) steadily increasing year after year, the demand for qualified Insolvency Professionals (IPs) has reached an all-time high. The IBBI Limited Insolvency Examination (LIE) is the mandatory first step into this space, but passing it is not as simple as it […]
Read moreHow to file claim under IBC: practical steps including forms and proof of claim
Under the Insolvency and Bankruptcy Code, 2016 (IBC), timely and accurate claim filing in the corporate insolvency resolution process (CIRP) and liquidation is critical, as claims must be submitted with the timeline submitted in the public announcement or up to 90 days from the insolvency commencement date, whichever is later, to be considered by the […]
Read moreLiquidation Challenges in India under IBC Ground Realities & Case Studies
A notable shift has occurred in the application of the Insolvency and Bankruptcy Code, 2016 (IBC), moving the primary focus from resolution of distressed companies toward their eventual Liquidation Challenges in India. This is demonstrated by the growing body of statistics that highlight a significant rise in liquidation outcomes compared to successful resolutions, indicating a […]
Read moreJudicial View on Zero-Coupon Instruments & Section 7 IBC Maintainability
There is a growing use of structured financial instruments in corporate financing, raising questions about their treatment under the Insolvency and Bankruptcy Code, 2016 (IBC). A zero-instrument, which is issued at a discount with the full amount paid at maturity, has been the subject of litigation under the IBC to determine if defaults qualify as […]
Read moreEmployees under Insolvency and Bankruptcy Code, 2016 Regime
The Insolvency and Bankruptcy Code, 2016 (“the IBC”) aims to consolidate and streamline the insolvency resolution process, focusing on time-bound procedures for maximizing asset value and promoting entrepreneurship. A key issue when a company enters insolvency is the fate of its employees, who may face job loss and unpaid dues. Hence, Employees under Insolvency protection […]
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Foreign Citizen Not Exempt from IBC
The IBC applies to both corporate entities and individuals, including personal guarantors to corporate debtors. A common misconception is that foreign citizens or non-residents are entirely outside the IBC framework. However, the IBC can still apply if the individual has assets or business interests within India, or if the insolvency proceedings are linked to a […]
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Information Utility Upload Alone Cannot Extend Limitation
This period is governed by Article 137 of the Limitation Act, 1963 and applies retrospectively from the IBC’s commencement in 2016. Timely filing of section 7 or 9 application is important as the delay beyond this period renders the claim time-barred, barring the initiation of CIRP unless condoned under section 5 of the Limitation Act […]
Read moreExecution of Sale Deed Upheld Under IBC
During the corporate insolvency resolution process (CIRP) and liquidation proceedings, transactions involving the corporate debtor’s assets are heavily scrutinized by insolvency professionals (IPs) and the Adjudicating Authority, National Company Law Tribunal (NCLT), to prevent the validity of a Sale Deed Upheld Under IBC executed either before or during the insolvency period. The core challenge in […]
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