Tranzission Blogs
328articlesInsights and guides on tax, compliance, and business strategy from Tranzission.
IBBI Suspends Insolvency Professional for One Year Over EMD Forfeiture
The Insolvency and Bankruptcy Board of India (IBBI) serves as the primary regulatory body for insolvency professionals (IPs) overseeing their registration, conduct, and compliance with the Insolvency and Bankruptcy Code, 2016 (IBC). In a recent disciplinary action against Mr. Subburengan Hari Karthik, an IBBI Suspends Insolvency Professional for 1 year due to the forfeiture of […]
Read moreNo Obligation to Collate Data from IRP Under RTI: IBBI
The Insolvency and Bankruptcy Board of India (IBBI), established on October 1, 2016, under the Insolvency and Bankruptcy Code, 2016 (IBC), is the regulatory authority responsible for overseeing India’s insolvency framework. It regulates insolvency professionals (IPs), agencies, and information utilities (IUs), ensuring compliance with the IBC through registration, monitoring, and enforcement of standards. The IBBI […]
Read moreIBBI Amends Insolvency Professional CPE Rules
The Insolvency and Bankruptcy Board of India (IBBI) is the statutory regulator responsible for registering, overseeing, and enforcing standards for Insolvency Professionals (IPs), Insolvency Professional Agencies (IPAs), and Information Utilities (IUs) under the Insolvency and Bankruptcy Code, 2016 (IBC). It ensures the integrity and efficiency of the insolvency process by settling the eligibility criteria, conducting […]
Read more
IBBI Guidelines for Insolvency Professional Education
The Insolvency and Bankruptcy Board of India (IBBI) in regulates insolvency professionals (IPs) by overseeing their registration, settling eligibility standards, enforcing ethical and professional conduct, and monitoring their performance to ensure compliance with the Insolvency and Bankruptcy Code, 2016 (IBC). Structured education and training are crucial for bullying competent IPs, as they ensure professionals possess […]
Read moreAvoidance Transactions Under IBC
In September 2025, it was reported that applications seeking recovery of approximately ₹3.90 lakh crore in Avoidance Transactions Under IBC had been filed with the National Company Law Tribunal (NCLT). Despite the large amount claimed, reports indicate that only ₹7,516 crore had been successfully recovered by September 2025, from applications totaling ₹3.76 lakh crore. This […]
Read moreMoratorium Under IBC Applies to All Proceedings
In the insolvency process under the Insolvency and Bankruptcy Code (IBC) involves a Moratorium Under IBC section 14, a statutory stay that halts all legal proceedings against a corporate debtor upon the admission of a corporate insolvency resolution process (CIRP) application by the National Company Law Tribunal (NCLT). It provides a “breathing space” to continue […]
Read moreConundrum of Center of main interest in Cross-Border Insolvency
Cross border insolvency occurs when a financially distressed company has assets, creditors, or legal proceedings in multiple countries, complicating the resolution process due to differing legal frameworks. As globalization drives businesses to operate internationally, such cases have become increasingly common, necessitating coordinated international mechanisms to ensure fair asset distribution and creditor protection. A key concept […]
Read more
Do Sections 32A and 60(5) of IBC Override PMLA
In cases where insolvency proceedings intersect with enforcement actions, IBC override PMLA becomes a critical principle. The Insolvency and Bankruptcy Code, 2016 (IBC) is a comprehensive legislation enacted by the Government of India to consolidate and amend laws relating to the insolvency and bankruptcy resolution of corporate persons, partnership firms, and individuals in a time-bound […]
Read moreInterplay of Section 31 of IBC and Section 16 of CGST Act
The Insolvency and Bankruptcy Code (IBC), enacted in 2016, ensures to resolve the insolvency of corporate persons, partnership firms and individuals in a time bound manner. It also provides a “clean slate” for corporate debtors through Interplay of Section 31, extinguishing liabilities not included in an approved resolution plan. However, this principle conflicts with the […]
Read moreSecured Creditors in ‘Liquidation’: Companies Act 2013 vs. IBC vs. SARFAESI
During liquidation under the Insolvency and Bankruptcy Code, 2016 (IBC), secured creditors have the right to either relinquish their security interest to the liquidation estate or realize it independently, with the proceeds applied first to their debt, and any surplus paid to the liquidator. The objective of protecting creditor rights is to ensure fair and […]
Read moreDeciding the Fate A Legal Analysis of the Adjudicating Authority’s Role in CIRP Initiation
Role in CIRP Initiation is a legal mechanism under the Insolvency and Bankruptcy Code, 2016 (IBC), designed to resolve corporate insolvency by either restructuring the company or initiating liquidation. It can be initiated by a financial creditor, operational creditor, or corporate debtor itself upon a payment default, with the National Company Law Tribunal (NCLT) serving […]
Read moreHigh Court Imposes Exemplary Cost for Filing Winding-Up Plea with Malafide Intention
Under the Companies Act, 2013, a Cost for Filing Winding-Up petition is a legal process initiated by creditors, members, or other stakeholders to compel a company’s dissolution when it is unable to pay its debts or when it is just and equitable to do so, with the court appointing to manage the process. Concurrently, the […]
Read more