Comprehensive Commentary on Insolvency and Bankruptcy Laws in India – 2025 Edition
This authoritative and detailed book provides a topic-wise analysis of insolvency and bankruptcy laws in India, covering key legislations such as the Insolvency and Bankruptcy Code, 2016 (IBC), the Recovery of Debts and Bankruptcy Act, 1993, and the SARFESI Act, 2002. Updated till 1st February 2025, this edition is crafted to address the practical challenges faced by professionals and serves as an indispensable resource for legal practitioners, corporate professionals, financial institutions, and academicians.
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### Key Features of the Book
1. Comprehensive Coverage
- In-depth analysis of the Insolvency and Bankruptcy Code, 2016 (IBC), including corporate insolvency, bankruptcy for individuals, and partnership firms.
- Detailed insights into the Recovery of Debts and Bankruptcy Act, 1993 and the SARFESI Act, 2002.
2. Practical Ready Referencer
- Step-by-step guidance on critical procedures such as:
- Corporate Insolvency Resolution Process (CIRP).
- Liquidation and Voluntary Liquidation.
- Pre-Packaged Insolvency Resolution Process (PPIRP) for MSMEs.
3. Focus on PPIRP
- Clear explanation of the Pre-Packaged Insolvency Resolution Process (PPIRP), including:
- Eligibility for MSMEs.
- Steps before making an application.
- Conduct of the process and involvement of the Committee of Creditors (CoC).
- Submission and approval of resolution plans.
4. Illustrative Examples
- Practical cases, scenarios, and interpretative guidance to help professionals navigate complex insolvency processes.
5. Quick Referencer
- Features tables, section indexes, acronyms, and well-structured headings for swift navigation.
- Includes a subject index for quick access to specific topics, judgments, or provisions.
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### Who Benefits from This Book?
- Legal Practitioners & Law Firms: Handling corporate insolvency and bankruptcy matters.
- Corporate Professionals: Including Company Secretaries, Chartered Accountants, and Cost Accountants advising on insolvency, liquidation, and restructuring.
- Financial Institutions & Banks: Focusing on resolution plans, credit management, and recovery.
- Insolvency Professionals (IPs) & IP Entities (IPEs): Seeking a comprehensive guide for day-to-day reference.
- Academicians & Students: Specializing in corporate law, finance, or business restructuring.
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### Highlights of the Book
1. Initiation & Conduct of CIRP
- From filing applications by financial/operational creditors to appointing resolution professionals and formulating resolution plans.
2. Committee of Creditors (CoC)
- Constitution, powers, and decision-making processes.
3. Moratorium & Public Announcements
- Legal effect of moratorium and obligations of stakeholders.
4. Resolution Plans
- Eligibility conditions (Section 29A), drafting resolution plans, and approval by CoC and NCLT.
5. Fast Track Resolution
- Special provisions and procedural framework for faster disposal in specific cases.
6. Liquidation & Voluntary Liquidation
- Liquidation estate, powers/duties of the liquidator, priority of claims, and distribution of assets.
7. Bankruptcy for Individuals & Firms
- Application, moratorium, repayment plans, and discharge orders.
8. Cross-Border Insolvency
- Provisions and enabling mechanisms for overseas asset realizations.
9. Offences & Penalties
- In-depth coverage of offences under the Code and relevant punishments.
10. Adjudication & Appeals
- Roles of NCLT, NCLAT, DRT, DRAT, and the Supreme Court; timelines and procedural aspects.
11. Registered Valuers & Valuation
- Qualifications, role, and regulatory requirements for registered valuers.
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### Structure of the Book
- Chapter-wise Commentary: Divided into 22 chapters, starting from the declining stage of an organization and culminating in procedural aspects before various tribunals.
- Logical Flow: Each chapter unfolds systematically—beginning with background and definitions, followed by step-by-step procedures, and concluding with case laws and practical insights.
- Tables & Illustrations: Helpful charts, tables, and bullet points break down complex sections of law for quick comprehension.
- Acronyms & Section Index: Ensures easy cross-referencing and effortless navigation.
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This version organizes the information into clear sections, highlights key features, and emphasizes the benefits of the book for its readers.
