The world ranking of India in Ease of Doing Business has been improved very significantly this year. India jumped up 30 notches into the top 100 rankings on the World Bank’s ‘Ease of doing business’ index. One of the major indicators is Resolving Insolvency. India got the 103 rank in Resolving Insolvency as compare 136 last year, i.e. after enforcing Insolvency and Bankruptcy Code, 2016.
The Insolvency and Bankruptcy Code, 2016 provides a legislative framework for the Resolution of the Stressed Assets, Insolvency and Liquidation proceedings of Corporate, Firm and Individuals.
Insolvency and Bankruptcy Code 2016 provides an exit route to address genuine business failures and provides the space for the genuine business players. This code provides a time bound resolution of the stressed assets within 180 days which can be extended further by 90 days. Financial Creditor, Operational Creditor and Corporate Debtor itself can opt for this code.
Hon'ble National Company Law Tribunal (NCLT), Hon'ble National Company Law Appellate Tribunal (NCLAT) and Hon'ble Supreme Court are adjudicating Insolvency and Liquidation cases and bringing numbers of judgments, resulting in admission or rejection of Insolvency applications.
Since the Insolvency and Bankruptcy Code is new, therefore we at IBCOrders.com made a sincere attempt to compile the orders of Hon'ble Supreme Court, Hon’ble National Company Law Appellate Tribunal (NCLAT), Hon’ble National Company Law Tribunal (NCLT) passed under Insolvency and Bankruptcy Matters in one place.
We believe that www.IBCorders.com will act as a handy reference for Regulators, Resolution Professionals, Financial Creditors, Operational Creditors, Corporate Debtors, Academics, Researchers and other stakeholders in understanding the adjudication matters and interpretation of Insolvency and Bankruptcy matters. The USP of this compilation is the ease of searching the case laws by using the KEYWORD as per the need of the case while preparing the Application, Appeal, and Referring Judgments / case law at the time of arguing the case etc.
We have also compiled various useful formats like Applications for filing before the Hon’ble NCLT, Appeal to be filed before Hon’ble NCLAT, various reports to be filed by IRP/RP at Adjudicating Authority, IBBI, IPA etc., Various Agreements to be executed by IRP/ RP like E-voting Agreements, Various letters to be sent by IRP / RP while discharging their duties etc. at www.IBCoredrs.com.
IBCOrders is perhaps the only and the India’s first portal to consolidate / compile the cases of Insolvency and Bankruptcy Code, 2016.
We are also proposing to provide the detailed analysis and reporting regarding, soon:-