Option 3 Insolvency and Bankruptcy Code- Corporate Debt Recovery
CORPORATE INSOLVENCY RESOLUTION PROCESS UNDER INSOLVENCY AND BANKRUPTCY CODE, 2016 Kindly refer to the link in the title to access the full Act STAGE-WISE PROCESS FOR INSOLVENCY:- In case a corporate debtor makes a default in repayment of dues of the creditors, the financial creditor/s, an operational creditor or a corporate debtor through Corporate applicant […]
Option 2 ARBITRATION – Corporate Debt Recovery
Option 2: THE ARBITRATION AND CONCILIATION ACT, 1996 (Kindly refer to the link in the title to access the full Act) This option is available only if there is an Arbitration Clause in the contract signed between the parties. The Indian Arbitration and Conciliation Act, 1996 is the statute governing arbitration law in India. Erstwhile passing […]
Option 1 Commercial Courts – Corporate Debt Recovery
Option 1 THE COMMERCIAL COURTS, COMMERCIAL DIVISION AND COMMERCIAL APPELLATE DIVISION OF HIGH COURTS ACT , 2015 (Kindly refer to the link in the title to access the full Act) As per Section 6, Commercial Courts can try suits relating to commercial transactions having the “specified value”. Section 2(i) of the Act defines “specified value”. […]
Corporate Debt Recovery
India is infamous for having an overburdened legal system that leads to indefinite delays in the disposal of cases. Inefficiencies in its legal infrastructure have made it all the more difficult for foreign as well as domestic investors to protect their investments in India. In fact, as seen in the famous case of White Industries Australia […]