EBC’s Insolvency and Bankruptcy Code : Law and Practice by Akaant Kumar Mittal – 2nd Edition 2023.

EBC’s Insolvency and Bankruptcy Code : Law and Practice by Akaant Kumar Mittal – 2nd Edition 2023.

Description:

The 2nd edition of Akaant Kumar Mittal has been thoroughly updated with the latest statutory amendments and case laws. The current edition is now in 2 volumes to encompass all the changes that have taken from the previous edition. Discussion on Section 1 to 32 of the Code has been included in Volume 1 whereas commentary from Section 34 onwards has been included in Volume 2. Volume 2 comes with additional write ups on Group Insolvency, Pre-Packaged Insolvency Process, Asset Reconstruction Companies and ILC Report of May 2022.

Table Of Contents:

Volume I

Chapters 1–33

1.Statement of Objects and Reasons

[Preamble]

2.Title and Applicability of the Law [Section 1]

3.Definition Clause [Section 3(7), (8), (14), (16 to 18) and (23)]

4.Applicability of Part II Relating to Insolvency Resolution and Liquidation for Corporate Persons [Section 4]

5.Designation of Adjudicating Authority and Appellate Authority: National Company Law Tribunal and National Company Law Appellate Tribunal [Sections 5(1) and 61(1)]

6.Dispute [Section 5(6)]

7.Defining Financial Creditor and Financial Debt [Section 5(7) and (8)]

8.“Operational Debt” and “Operational Creditor” Section 5(20) and (21)]

9.Persons Who May Initiate Resolution Process [Section 6]

10.Financial Creditors [Section 7]

11.Homebuyers [Section 7]

12.Initiation of Resolution Process by an Operational Creditor [Sections 8 and 9]

13.Corporate Insolvency by Corporate Applicant [Section 10]

14.Disqualification under Section 11, IB Code [Section 11]

15.Time-Frame for Resolution Process [Section 12]

16.Withdrawal of Application Post-Admission [Section 12-A]

17.Declaration of Moratorium and Public Announcement [Section 13]

18.Imposition of Moratorium [Section 14]

19.Public Announcement of Corporate Insolvency Resolution Process [Section 15]

20.Appointment of Interim Resolution Professional and Resolution Professional and Their Fees and Costs [Sections 16 and 22]

21.Role and Duties of an Interim Resolution Professional and a Resolution Professional [Sections 17, 18, 20, 23 and 25]

22.Non-Cooperation by the Promoters: Directors [Section 19]

23.Formation of Committee of Creditors [Section 21]

24.Meeting of Committee of Creditors 826 [Section 24]

25.Authorised Representatives of Financial Creditors [Section 25-A]

26.Application for Avoidance of Transactions Not to Affect Proceedings [Section 26]

27.Removal of an Interim Resolution Professional and a Resolution Professional [Sections 27 and 22(2)]

28.Approval of Committee of Creditors for Certain Actions [Section 28]

29.Invitation for Expression of Interest and Information Memorandum [Section 29]

30.Persons Not Eligible to be Resolution Applicant [Section 29-A]

31.Submission of a Resolution Plan [Section 30]

32.Resolution Plans and Its Consideration by the Adjudicating Authority [Sections 31 and 32, 61(3) and (4), 62]

33.Liability of Corporate Debtor for Offences Committed Prior to Initiation of CIRP [Section 32-A]

Subject Index [Vol. I]

Volume II Chapters 34–62

34.Liquidation Process [Section 33]

35.Fast Track Corporate Insolvency Resolution Process [Sections 55–58]

36.Voluntary Liquidation [Section 59]

37.Adjudicating Authority for Corporate Persons [Section 60]

38.Appeals and Appellate Authority of NCLAT [Section 61]

39.Appeal to the Supreme Court [Section 62]

40.Ouster of Civil Court’s Jurisdiction and Disposal of Applications [Sections 63–64]

41.Fresh Start Process [Sections 78–93]

42.Insolvency Resolution Process Against Individuals and Firms [Sections 94–120]

43.Bankruptcy Order for Individuals and Partnership Firms [Sections 121–178]

44.Adjudicating Authority for Individuals and Firms [Sections 179–183]

45.Offences and Penalties [Sections 184–187]

46.Formation of Insolvency and Bankruptcy Board of India [Sections 188–198]

47.Insolvency Professional Agency and Insolvency Professional [Sections 199–208]

48.Information Utility [Sections 209–216]

49.Inspection and Investigation of IPAs, IPs and IUs [Sections 217–220]

50.Finance, Accounts and Audit [Sections 221–254]

51.Power of Central Government to Notify Financial Service Providers [Section 227]

52.Cross-Border Insolvency [Sections 234–235]

53.Interplay with Other Statutes and Non-Obstante Clause [Section 238]

54.Limitation [Section 238-A]

55.Micro, Small and Medium Enterprises Act [Section 240-A]

56.Power of Central Government to Remove Difficulties in the Working of the IB Code [Section 242]

57.Board of Industrial and Financial Reconstruction and Sick Industrial Companies Act [Section 252]

58.AmendmentstotheCompaniesAct,2013 [Section 255]

59.Postscript on the Insolvency Law Committee Report of May 2022

60.Pre-Packaged Insolvency Resolution Process

61.Asset Reconstruction Companies

62.Group Insolvency

Subject Index [Vol. II]

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