FinCEN Files are a set of over 2,100 “Suspicious Activity Reports” (SARs) and other documents, filed by banks with the United States Department of the Treasury’s Financial Crime Enforcement Network.
Section 29A is a restrictive provision and specifically lists down the persons who are not eligible to be resolution applicants. It is relevant to the sale during liquidation, as well as sale outside the liquidation process.
The Insolvency and Bankruptcy Code, 2016 (IBC) is the umbrella law for insolvencies and reorganizations in India. Although, insolvency proceedings are considered a debt recovery tool. However, it has only been enacted for reorganization and insolvency resolution of the corporate debtor.
In the present case, the NCLT referred the parties to arbitration, but it is crucial to throw light on the fact that it didn’t hold that the Arbitration Act would prevail over IBC.
The Insolvency and Bankruptcy Code (Amendment) Ordinance, 2020 seeks to curb the social and economic distress caused by COVID-19, and rescue defaulters. This article seeks to analyze the benefits and the glaring ambiguities arising from the ordinance.
Limitation Act, 1963 applies to the proceedings under the Insolvency and Bankruptcy Code, 2016 in the matters relating to the initiation of the corporate insolvency resolution process(CIRP) based on time-barred debt.
IBC is fueling mergers and acquisition transactions in India. Learn about IBC and how it is changing the M&A landscape in the country.
Due diligence in M&A transactions is required to confirm the vendor's pertinent information such as financials, contracts, customers, etc.