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Corporate Insolvency Resolution Process Tag

SURANA & SURANA > Posts tagged "Corporate Insolvency Resolution Process"

THE INTERSECTION BETWEEN THE CAPETOWN CONVENTION AND IBC, 2016: AN OXYGEN MASK FOR THE INDIAN AVIATION INDUSTRY

Chinna Aswathy Abraham - Senior Associate, Dispute Resolution Practice Mayday? More like, May-Decade! Starting with the grounding of the Kingfisher Airlines in 2012, followed by the downfall of Jet Airways in 2019, all the way to the latest insolvency of Go First- it is safe to say that it has been a bumpy ride for the Indian Aviation Industry. With the initiation of the Corporate Insolvency Resolution Process (‘CIRP’) against Go First- India and more particularly the Indian insolvency law framework was brought under global scrutiny. As per Section.14 (1)(d) of the Insolvency & Bankruptcy Code, 2016 (‘IBC’), once a Corporate Debtor...

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THE SCOPE OF GEO-TAGGING OF IMMOVABLE ASSETS IN THE CORPORATE INSOLVENCY RESOLUTION PROCESS

THE SCOPE OF GEO-TAGGING OF IMMOVABLE ASSETS IN THE CORPORATE INSOLVENCY RESOLUTION PROCESS

Chinna Aswathy Abraham Associate, Dispute Prevention & Resolution “Geo-tagging refers to the process of adding geographical identification like latitude and longitude to an asset. The information included in a geo-tag may include place co-ordinates, bearings, altitude, distances, or even place names.”(1) This helps users access location specific information about an asset at the click of a few buttons, without having to physically travel to the said location. The Indian government has been using geo-tags to monitor assets in several of its national rural development programmes- such as the Mahatma Gandhi National Rural Employment Guarantee Act (‘MGNREGA’), the Integrated Watershed Management Programme, Per Drop...

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Pre-Packaged Insolvency Resolution Process – The JOURNEY thus far

PRE-PACKAGED INSOLVENCY RESOLUTION PROCESS

Ms.Chinna Aswathy Abraham Associate, Litigation & Arbitration Practice Business rescue is commonly achieved by sale of the company’s assets while keeping it a going concern, in an attempt to generate more value, as opposed to selling the assets in piecemeal. This is precisely what a pre-packaged insolvency resolution mechanism seeks to achieve. In a pre-pack, “a troubled company and its creditors negotiate an agreement prior to statutory administration procedures, which allows these statutory procedures to be carried out at greater speed.”(1) “It is commonly seen as a hybrid method of corporate rescue, as it combines the advantages of private restructuring with some...

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