PAPER-9 Insolvency and Bankruptcy
CS Professional Mod 2 Electives
Taught by Faculties:
Syllabus
Objective:
To provide Expert Knowledge in Insolvency & Bankruptcy Laws in India & International Perspective. Level of Knowledge: Expert Knowledge Detailed Contents
1. Introduction to Insolvency and Bankruptcy Code:
Concepts and Evolution.
*Historical Background
*Report of the Bankruptcy Law Reforms Committee, Need for the Insolvency and Bankruptcy Code, 2016
*Overall scheme of the Insolvency and Bankruptcy Code l Important Definitions
*Institutions under Insolvency and Bankruptcy Code, 2016
2. Corporate Insolvency Resolution Process:
*Legal Provisions
*Contents of Resolution Plan
*Submission of Resolution Plan
*Approval of Resolution Plan
*Committee of Creditors
*Procedure
*Documentation
*Appearance
*Approval
3. Resolution Strategies:
*Restructuring of Equity and Debt
*Compromise and Arrangement
*Acquisition l Takeover and Change of Management
*Sale of Assets
4. Fast Track Corporation Insolvency Resolution Process:
*Applicability for Fast Track Process
*Time Period for Completion of Fast Track Process
*Procedure for Fast Track Process
5. Liquidation of Corporate Person:
*Initiation of Liquidation
*Powers and Duties of Liquidator
*Liquidation Estate
*Distribution of Assets
*Dissolution of Corporate Debtor
6. Voluntary Liquidation of Companies:
*Procedure for Voluntary Liquidation
*Initiation of Liquidation
*Effect of Liquidation
*Appointment
*Remuneration
*Powers and Duties of Liquidator
*Completion of Liquidation
7. Adjudication and Appeals for Corporate Persons:
*Adjudicating Authority in relation to Insolvency Resolution and Liquidation for Corporate Persons
*Jurisdiction of NCLT
*Grounds for Appeal against Order of Liquidation
*Appeal to Supreme Court on Question of Law
*Penalty of Carrying on Business Fraudulently to Defraud Traders
8. Pre-Packaged Insolvency Resolution Process:
*Governing Framework
*Eligibility for PPIRP
*Approval of Resolution Plan
*Closure of PPIRP
9. Debt Recovery and Securitization:
*Non-performing Assets
*Asset Reconstruction Companies [ARC]
*Security Interest (Enforcement) Rules, 2002
*Options available with Banks e.g. SARFAESI, DRT, etc.
*Application to the Tribunal/Appellate Tribunal
10. Winding-Up by Tribunal:
*Introduction
*Is Winding up and Dissolution Synonymous?
*Winding up under the Companies Act, 2013
*Powers of the Tribunal Fraudulent Preferences
11. Insolvency Resolution of Individual and Partnership Firms:
*Application for Insolvency Resolution Process
*Procedural Aspects
*Discharge Order
12. Bankruptcy Order for Individuals and Partnership Firms:
*Bankruptcy if Insolvency Resolution Process fails
*Application for Bankruptcy
*Conduct of Meeting of Creditors
*Discharge Order
*Effect of Discharge Order.
13. Bankruptcy for Individuals and Partnership Firms:
*Background
*Overview of the provisions
*Adjudicating Authority
*Appeal against order of DRT
*Appeal to Supreme Court.
14. Fresh Start Process:
*Background
*Application for Fresh Start Order
*Procedure after Receipt Of Application
*Discharge Order
15. Professional and Ethical Practices for Insolvency Practitioners:
*Responsibility and Accountability of Insolvency Practitioners
*Code of Conduct
*Case Laws
*Case Studies and Practical Aspects
16. Group Insolvency:
*Framework Dealing with the Insolvency of Companies in Corporate Groups
*Issue and Challenges Group Insolvency in India
*Case laws
*Case Studies and Practical Aspects.
17. Cross Border Insolvency & IBC:
*Applicability of the IBC to a Foreign Company
*Applicability of the Cross-border Insolvency Framework
*Foreign Assets, Liabilities and Operations
*Structures likely to Trigger Cross Border Insolvency Provisions
18. Cross Border Insolvency:
*Introduction l Evolution of Cross Border Insolvency Regimes
*Global Developments
*UNCITRAL Legislative Guide on Insolvency Laws
*UNCITRAL Model Law on Cross Border Insolvency
*World Bank Principles for Effective Insolvency and Creditor Rights
*ADB principles of Corporate Rescue and Rehabilitation
*International Perspective – UK, Canada, UAE, Singapore
*US Bankruptcy Code
