Capacity building of Professionals in the area of legal, procedural and application oriented aspects of Corporate Restructuring, Oppression & Mismanagement, and Compounding of Offences is essential under the regulatory framework provided under Companies Act 2013. In this context, National Company Law Tribunal (NCLT) and National Company Law Appellate Tribunal (NCLAT) have larger role to play as regulator, replacing Company Law Board (CLB), High Courts, Board for Industrial and Financial Reconstruction (BIFR) and the Appellate Authority for Industrial and Financial Reconstruction (AAIFR). Besides, NCLT has vital role to play in other areas such as Inquiry and Investigation, Derivative actions, Reduction of Capital and so on.
Further, recently in December, 2016 the Insolvency and Bankruptcy Code 2016 (IBC) has been notified. IBC would consolidate the laws relating to reorganization and insolvency of corporate persons, partnership firms and individuals in a time-bound manner. Under IBC, the role of NCLT,Insolvency and Bankruptcy Board of India (IBBI), Insolvency Professionals and other intermediaries is worth examining. For resolution of various disputes under the Companies Act, 2013 there are provisions for constitution of Special Courtsand Mediation and Conciliation Panel. Very recently, the Ministry of Corporate Affairs has notified some courts in various States as designated Special Courts under the Act.
Below Mentioned Questionaire will be resolved in light of Expert Guidance.
INSOLVENCY AND BANKRUPTCY CODE, 2016 (IBC) -FAQS
- What is the Scope and applicability of IBC ?
- What is the impact of IBC on applicability of other Legislations?
- Difference between insolvency, bankruptcy and liquidation
- Which are the Four pillars under the Code?
- What are various time limits under the Code?
- Who are the Applicants under the Code?
- Who can initiate Corporate Insolvency Resolution Process (CIRP)?
- When can CIRP be initiated?
- What constitutes default under IBC?
- Who is a corporate debtor under IBC?
- What is the difference between Financial Creditor and Operational Creditor?
- What is the difference between Interim Resolution Professional and Resolution Professional?
- Can an interim resolution professional act as the resolution professional?
- What is the meaning and impact of Moratorium?
- What are the powers and duties of the Resolution Professional?
- Who can be member of Committee of Creditors?
- What are the powers of Committee of Creditors?
- What are the Essential Services?
- How the Interim Finance can be raised?
- Who can be the Claimants under the Code?
- What does the term “powers of the Board get suspended” mean?
- Who can be the Resolution Applicant?
- What is the Resolution Plan?
- Can promoter of the defaulting Corporate Debtor be Resolution Applicant?
- Are Bankers ready to take hair-cuts?
- What will happen if no Resolution Plan is approved?
- What the process of Creditors’ Liquidation under the Code?
- What the process of Voluntary Liquidation under the Code
- What are the challenges under the Code?
- What are the penalties under the Code?
- What do you mean by consolidation of corporate jurisdiction with respect to NCLT?
- What is the role of NCLT under Companies Act, 2013?
- What is the role of NCLT under Insolvency and Bankruptcy Code, 2016?
- How NCLT deals Oppression and Mismanagement cases?
- Is it a smooth transition from:
- a. High Courts to NCLT (M&A and Winding up)
- b. BIFR to NCLT (Sick Companies)
- c. CLB to NCLT (Oppression & Mismanagement and Compounding of offences)
- What are the provisions of appeal from the orders of NCLT and NCLAT?
- What are the salient features of NCLT Rules?
Key Topics to be Covered
1. Session One
• Historical Journey of Insolvency and Bankruptcy Law.
• NCLT-Consolidation of Corporate Jurisdiction.
2. Session Two
• Transition from Company Law Board to NCLT.
• Transition from BIFR to NCLT.
• NCLT – A game changer for Oppression & Mismanagement Cases.
• Newer Jurisdiction of NCLT under the Companies Act, 2013.
• Powers of NCLT.
• NCLT Rules – Key take aways.
3. Session Three
• Birds Eye view of Insolvency and Bankruptcy Code, 2016 (IBC).
• History and Future of Insolvency and Bankruptcy Regime.
• Key Provisions of IBC.
4. Session Four
• Institutional Framework of IBCthe Code.
• Establishment and Role of Insolvency and Bankruptcy Board of India.
• Regulation of Intermediaries (Insolvency Professionals, Insolvency Professional Agencies and Information Utilities).
• Role of NCLT and NCLAT under the Code.
8:00 am - 8:30 am
Morning Session Begins
10:30 am-11:00 am
Morning Session Continues
1:00 pm-2:00 pm
Afternoon Session Begins
Afternoon Refreshment & Networking
3:30 pm - 4:00 pm
Who Should Attend
Banking Professionals, Insolvency Professionals, Corporate Lawyers, General Counsels, Directors, Chartered Accountants, Company Secretaries, Compliance Officers, Governance Professionals, Entrepreneurs.
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