NCLAT orders CoC is not functus officio

On 5th January 2022, the National Company Law Appellate Tribunal (NCLAT), Principal Bench, New Delhi headed by Justice Jarat Kumar Jain and Technical member Dr. Ashok Kumar Mishra in Bank of Maharashtra v Videocon Group (Company Appeal (AT) (Ins.) No. 503 of 2021) held that the Committee of Creditors (CoC) is not functus officio on […]

IBC and Interim Finance

WHAT IS INSOLVENCY & BANKRUPTCY CODE The Insolvency and Bankruptcy Code, which is considered the biggest insolvency reform, was enacted and came into force w.e.f. 28th May 2016. It is a central Act enacted for reorganization and insolvency resolution of corporate persons, partnership firms, and individuals in a time-bound manner for maximization of the value […]

An Insight into Bad Banks

Stressed asset reclusion has become a pervasive way of tidying up the balance sheets of troubled banks. Private investors venture into institutional correction of these stressed assets for a safer return supplemented by a specialized mark-up. These institutions, commonly referred to as Bad Banks, acquire Non-performing Assets (NPAs) at a discounted price with the aim […]