Shows
VListenS02E18 - Byju's Insolvency Ruling and its Legal Implications | Supreme Court’s take on inherent powers vs. statutory proceduresDive into the groundbreaking Supreme Court ruling on Byju’s insolvency case, which redefines the use of Rule 11 and reaffirms the importance of procedural safeguards under Section 12A of the IBC. This episode unpacks the legal nuances, critiques the NCLAT’s approach, and highlights the limitations of inherent powers of Tribunals when procedural framework is laid out under the law. 2025-01-0504 min
VListenS02E17 - Unallotted Share Application Money - Financial Debt? | Murlidhar Vincom Pvt. Ltd. vs. Skoda (India) Pvt. Ltd. (NCLAT)In this episode of VListen, host Prasanna delves into the Hon’ble NCLAT’s ruling in Murlidhar Vincom Pvt. Ltd. vs. Skoda (India) Pvt. Ltd. Can unallotted share application money be considered financial debt under the Insolvency and Bankruptcy Code, 2016? Join us as we break down the arguments, legal interpretations, and the court’s decision in this landmark case. Perfect for legal professionals, students, and anyone interested in insolvency law!2024-12-0703 min
VListenS02E16 - Income Tax Reassessment After Resolution Plan Approval | The Case of Asian Colour Coated Ispat Ltd.In this episode, we explore the legal intricacies of whether the Income Tax Department can issue a reassessment notice after a resolution plan has been approved under the Insolvency and Bankruptcy Code (IBC). Using the recent case of Asian Colour Coated Ispat Ltd. vs. Assistant Commissioner of Income Tax as our case study, we discuss the Delhi High Court’s judgment and the broader implications for corporate debtors, creditors, and tax authorities.
Key highlights:
• What happens when tax notices arrive after insolvency resolution?
• The role of the resolu...2024-10-1302 min
VListenS02E15 - Amendments to CIRP Regulations | February 2024In this episode, Sarthika summarises the amendments made to CIRP Regulations by IBBI. 2024-03-0103 min
VListenS02E14 - Directors' Liability prevails during CIRP | Regardless of IBC MoratoriumIn this insightful episode of VListen, we unravel the intricacies of directorial liability amidst the protective shield of moratorium provided under the Insolvency and Bankruptcy Code (IBC). The Hon'ble Supreme Court's rulings in pivotal cases shed light on the nuanced legal landscape, challenging the common perception that directors are immune during a company's Corporate Insolvency Resolution Process (CIRP).
Join us as we delve into key judgments, including the landmark P. Mohanraj vs. Shah Bros. Ispat (P) Ltd., where the Supreme Court clarified the scope of the moratorium and its impact on individual liability. We explore how these...2024-01-2803 min
VListenS02E13 - Remedies against Third Parties u/s. 66 of IBC | Analysis of the current legal positionIn this episode, Katyayni touches upon an important aspect of avoidance transactions covering the Supreme Court's take on availing remedies against third parties under Section 66 of the Insolvency and Bankruptcy Code, 2016.2023-08-1104 min
VListenS02E12 - CIRP Application against Co-Borrower | Position of Law on MaintainabilityWelcome to another enlightening episode of our podcast!
In this episode CS Ankita Pugalia delves into the position of law on maintainability of CIRP Applications against Co-Borrowers.2023-08-0303 min
VListenS02E11 - Treatment of PF dues in a Resolution Plan | Analysis of NCLAT order in Jet AirwaysIn this episode, we discuss the NCLAT order in Jet Airways wherein the treatment of PF dues in a resolution plan is examined.2023-03-3107 min
VListenS02E10 - Slump Sale cannot be converted into Sale as a Going Concern during LiquidationIn this episode, Sravya provides case brief of a NCLT order disallowing conversion of slump sale into sale as a going concern.2022-10-0202 min
VListenS02E9 - Amendments to CIRP Regulations | Effective September 16, 2022IBC is dynamic legislation with amendments made to the Act and the Regulations thereof at regular intervals. The IBBI had, on September 16, 2022, made vital amendments to the CIRP Regulations. In this video, Mr. Bendi Raviteja, Partner at VIRA Legal LLP discusses the said amendments.2022-09-2408 min
VListenS02E08 - Future Retail into CIRP | The Unending Saga of Amazon & Reliance over Future GroupIn this episode, Aditya explains the unending saga of Amazon & Reliance over acquiring future group and the recent ruling of NCLT admitting Future Retail in to CIRP.2022-09-1408 min
VListenS02E07 - Compulsorily Convertible Debentures - Analysis of Claims | Part-IIn this episode Aditya analyses the complexities in claims of Compulsorily Debenture Holders.2022-07-1004 min
VListenS02E06 - Commercial Wisdom of CoC under Section 12A of IBC | Vallal RCK vs. Siva Industries and Holdings Ltd. & Ors.In this episode, Prakul presents the case brief of the recent Supreme Court ruling in the matter of Siva Industries and Holdings Limited upholding the commercial wisdom of CoC in considering withdrawal of CIRP under Section 12 of Insolvency and Bankruptcy Code, 2016.2022-06-2603 min
VListenS02E05 - Approval of CCI | For Combinations proposed in Resolution PlansIn this episode, we talk about the requirement of obtaining approval from CCI for combinations proposed under resolution plans and more importantly as to the timing of obtaining such approval.2022-06-1601 min
VListenS02E04 - Status of Insufficiently Stamped Documents | Admission of Section 7 ApplicationIn this episode of VListen, Mr Shivam Singhal explains the status of insufficiently stamped documents for admission of Section 7 Application under IBC especially where the existence of debt and default can be proven without relying on such documents.2022-02-1803 min
VListenS02E03 - Non-Registration of Charge | Status of such creditors under IBCIn this brand new episode, Mr Prakul quickly analyses the current position of law in treating the creditors whose security interest has not been registered as charge with the RoC. 2022-02-1104 min
VListenS02E02 - Interest portion of Operational Debt | A tale of shadow interpretationsIn this episode, Mr Bendi Raviteja touches upon the contentious issue of interest portion of operational debt highlighting the contradictory rulings of the NCLTs in India.2022-02-0405 min
VListenS02E01 - Appropriate Jurisdiction | Personal Guarantors to Corporate DebtorIt is still a matter of debate as to whether NCLT or DRT exercises jurisdiction for initiation of Insolvency Resolution Process or Bankruptcy Process against the Personal Guarantor to the Corporate Debtor when there is no pending CIRP or Liquidation Process against such Corporate Debtor.
In this episode Mr Kunwarpreet Singh, Partner at Prakul & Kunwarpreet LLP (P&K) explains the current position of law in this regard!2022-01-2704 min
UV ListenS1EP30 Recharge - Geluvu Soladaga - Star Agodu Sulabha alla - ಗೆಲುವು ಸೋಲಾದಾಗ - ಸ್ಟಾರ್ ಆಗೋದು ಸುಲಭ ಅಲ್ಲRecharge: Kick start your day by tuning in to "Recharge” Podcast by Mr. Badekkila Pradeep
ಗೆಲುವು ಸೋಲಾದಾಗ
ನಮ್ಮ ನಡುವೆ ಕೆಲವು ಅತ್ಯದ್ಭುತ ಸಿನಿಮಾ ತಾರೆಯರಿದ್ದಾರೆ. ಆರಂಭದ ದಿನಗಳಲ್ಲಿ ಗೆಲ್ತಾ ಗೆಲ್ತಾ ಭರವಸೆಯ ನಟರಾಗಿ ಹೊರಹೊಮ್ಮಿದ್ರೂ ಆ ಗೆಲುವನ್ನು ಉಳಿಸಿಕೊಳ್ಳೋದ್ರಲ್ಲಿ ಸೋತರು. ಅವರು ಯಾರು ಮತ್ತು ಕಾರಣಗಳನ್ನು ತಿಳಿಯಿರಿ ಬಡೆಕ್ಕಿಲ ಪ್ರದೀಪ ಧ್ವನಿಯಲ್ಲಿ. www.vlisten.com ಟೈಪ್ ಮಾಡಿ ಅಥವಾ ಈ QR ಕೋಡ್ ಸ್ಕ್ಯಾನ್ ಮಾಡಿ.2022-01-1710 min
VListenEpisode 53 - Violation of S. 186 of Companies Act, 2013 leads to dismissal of CIRP ApplicationThe Hon'ble NCLT, Principal Bench in the matter of UKG Steel Private Limited Vs. M/s. Erotic Buildcon Private Limited held that loan advanced by Financial Creditor in violation of Section 186 of Companies Act, 2013 leads to a debt which cannot be legally enforceable and thereby dismissed the CIRP Application filed under Section 7 of IBC, 2016.
Mr Yashraj Singh summarised the order and its rationale and leaves us with a food for thought as to whether this order is a wakeup call for companies who are advancing loans by violating section 186 of Companies Act 2013.2021-06-2502 min
VListenEpisode 52 - Invocation of Section 66 of IBC for Contravention of MoratoriumIn this episode, Mr Raymond Albyness discusses an interesting ruling by NCLT, Chennai wherein the Hon'ble NCLT invoked its powers under Section 66 of the Insolvency and Bankruptcy Code, 2016 for contravention of moratorium.2021-06-1805 min
VListenEpisode 51 - Ringfencing Successor Liability : Protection offered to distressed acquisitions under India's Insolvency CodeMr Divyansh Dev delved into the ingredients of Section 32A of the Insolvency and Bankruptcy Code, 2016 which provides for immunity from any criminal prosecution against the Corporate Debtor and protection to the properties of the Corporate Debtor for the offences committed before the Insolvency Commencement Date.
Keep listening to VListen!
If VListen... We Learn!2021-06-1104 min
VListenEpisode 50 - Indian Variant of Pre-Packs : A Focused Discussion with Ms. Shreya PrakashThe Indian Variant of Pre-Packs is designed specifically for MSMEs and there are certain key areas which need focused discussion. In our special episode we had the privilege of hosting Ms. Shreya Prakash who shared her views on the key issues highlighted by VL team.
Keep Listening to VListen.
If VListen... We Learn!2021-06-0320 min
VListenEpisode 49 - Personal Guarantors to Corporate DebtorThe issue on whether limiting the application of provisions of Part-III to Personal Guarantors to Corporate Debtor is valid, has come to a conclusion with the recent order of the Hon'ble Supreme Court in Lalit Kumar Jain vs. UoI & Ors.
Listen to our Podcast for the case study on Lalit Kumar Jain vs. UoI & Ors.2021-05-2804 min
VListenEpisode 48 - Feasibility and Viability of Resolution PlanDoes the proposal of the Resolution Applicant to change the business of the Corporate Debtor fail the feasibility and viability test under the Code? What exactly is "feasibility and viability"?
To know more on this, listen to this episode by Aditya.2021-05-2104 min
VListenEpisode 47 - Treatment of Provident Fund Dues under IBC, 2016In this Episode, Mr Vineeth attempts to address an important issue as to whether PF dues are considered as Statutory Dues i.e. Operational Debt or as third-party assets which have super priority charge over the estate of the Corporate Debtor? 2021-05-1404 min
VListenEpisode 46 - Treatment of Dissenting Financial CreditorsIn this episode, we will take you through a significant ruling by the Hon'ble Supreme Court clarifying the issue as to whether minimum payment payable to Dissenting Financial Creditors shall be in cash or monetary terms or in any other manner apart from cash?2021-05-0704 min
VListenEpisode 45 - Is Priority Rights not a Priority?In a recent ruling of NCLAT in the matter of Indian Renewable Energy Development Agency Ltd. Vs. Bhuvesh Maheshwari and Ors., it was observed that in the event the Secured Creditor holding priority charge elects to relinquish its security interest then the priority status of such secured creditor is lost and shall rank equally with other Secured Creditors. The Podcast attempts to capture the existing position and the need for protection of priority rights inter-se Secured Creditors.2021-04-3005 min
VListenEpisode 44 - Contours of inherent powers vested upon High Court under S.482 Cr.P.C vis-à-vis IBCIn the instant case, the Hon'ble Supreme Court addressed an important issue as to whether inherent powers of the High Court u/s 482 Cr.P.C. can countenance the breach of a statuary provision?
In this podcast, Mr Bendi Raviteja will take you through the facts of the case and the rationale behind the ruling of SC.2021-04-2806 min
VListenEpisode 43 - Entries in Balance Sheet tantamount to Acknowledgment of DebtThe Hon'ble Supreme Court of India, in the matter of ARCIL vs. Bishal Jaiswal & Anr., after referring to a plethora of judgements, ruled that the entries in balance sheet shall be regarded as Acknowledgement of Debt for the purpose of Section 18 of the Limitation Act, 1963 read with Section 7 & 9 of the IBC, 2016 for initiation of CIRP.
In this Podcast Mr Vakiti Vineeth Reddy explained the rationale of the SC order in the instant case and the views of Full Bench of the NCLAT which had contrary views.2021-04-2309 min
VListenEpisode 42 - Beneficial Liquidation - Gujarat Urja Vikas Nigam Ltd vs. Yes Bank LimitedThe Hon'ble NCLAT in the matter of GUVNL vs. Yes Bank directed GUVNL not to terminate the PPA during Liquidation on the ground that Beneficial Liquidation aimed at maximising the value of assets of the Corporate Debtor is the norm of IBC which cannot be defeated. Listen to this Podcast by Vineeth, to learn the facts and the rationale behind such order.
Keep Listening to VListen!
If VListen... We Learn!2020-11-0505 min
VListenEpisode 41 - Analysing Sectors of Indian Economy under Covid-19 Environment - An Indication for likely spike in cases under IBCThe impact of COVID-19 can be felt across various sectors in the Indian economy leading to stress in large number of businesses in India and thereby indicating a spike in cases under IBC once the suspension is shifted.
In this week's podcast, CA Vibhor Gupta analyses the performance of various sectors in India like that of Aviation, Tourism, Real Estate etc. under COVID-19 environment.2020-10-0212 min
VListenEpisode 40 - Arcelor Mittal India Pvt. Ltd. vs. Satish Kumar Gupta - SC Landmark Ruling on Section 29A of IBCThe Hon'ble Supreme Court in the matter of Arcelor Mittal India Pvt. Ltd. vs. Satish Kumar Gupta, pronounced a landmark ruling on the interpretation of Section 29A of the Insolvency and Bankruptcy Code, 2016. In this podcast, Mr Ojas Pimparkar discusses in detail the facts of the case and the rationale behind the Supreme Court's Ruling.2020-09-1914 min
VListenEpisode 39 - Interplay of IBC and Limitation Act - Challenges and Contentious IssuesIn this episode, Mr Vineeth Reddy deliberates on the challenges in the interplay between IBC and Limitation Act.2020-09-1006 min
VListenEpisode 38 - Supreme Court's Verdict on Payment of AGR Dues and Sale of Spectrum by Insolvent TelcosIn this podcast we discuss the Supreme Court's Verdict on the payment of AGR dues by Indian Telcos and whether Spectrum can be subject to proceedings under the Insolvency and Bankruptcy Code, 2016 ("IBC")2020-09-0209 min
VListenEpisode 37 - UVARC's resolution plan for AIRCEL- Salient FeaturesIn this podcast, CA Aditya Gupta discusses the salient features of the resolution plan submitted by UVARC for AIRCEL, which was duly approved by the NCLT.2020-09-0106 min
VListenEpisode 36 - Does Classification of Account as NPA necessarily mean default under IBC?Where a Bank classifies an account as NPA, it need not mean default under IBC is what CA Aditya Gupta argues and CS Prakul Thadi disagrees with him. Listen to the podcast to understand their respective arguments.2020-08-3010 min
VListenEpisode 35 - Attachment of properties become void under Section 32A of IBCIn this podcast, Mr Araventhan takes you through the order passed by NCLT, Kolkata Bench, in the matter of Anil Goel vs. Deputy Director, Directorate of Enforcement, Delhi wherein it was observed that the attachment and confiscation of properties of a CD undergoing CIRP or liquidation become void under section 32-A of the Code.2020-08-2705 min
VListenEpisode 34 - Babulal Vardharji Gurjar vs. Veer Gurjar Aluminium Industries - Supreme Court on the Applicability of Limitation Act to IBCIn Babulal Vardharji Gurjar vs. Veer Gurjar Aluminium Industries, both NCLT and NCLAT had admitted CIRP application even when the date of initiation of CIRP Application is more than 3 years from the date of default. The real fight is between Article 137 and Article 62 of the Limitation Act, 1963 and whether the decision of NCLT and NCLAT to admit the application upon invocation of Article 62 of the Limitation Act, 1963 is valid?
The matter landed before the Supreme Court and in this podcast Mr Vineeth Vakiti explained the decision of the Supreme Court and the rationale thereof.
If V...2020-08-2304 min
VListenEpisode 33 - SBI vs. Anil Dhirajlal Ambani - Insolvency Resolution Process against Personal GuarantorIn this Podcast, CA Aditya Gupta gives a quick overview of the order passed by NCLT, Mumbai in the matter of SBI vs. Anil Dhirajlal Ambani pursuant to its powers under the IBC and I & B (Application to Adjudicating Authority for Insolvency Resolution Process for Personal Guarantors) Rules, 2019.2020-08-2105 min
VListenEpisode 32 - RBI - Resolution Framework for COVID-19-related StressIn this Podcast, CA Aditya Gupta explains the one-time restructuring opportunity provided by RBI through Resolution Framework for COVID-19-related stress, release by RBI on August 6, 2020.2020-08-1606 min
VListenEpisode 31 - IBBI amends Liquidation Process and Voluntary Liquidation Process Regulations on August 5, 2020In this podcast we update our listeners on the amendments brought forward by IBBI to the IBBI (Liquidation Process) Regulations, 2016 and IBBI (Voluntary Liquidation Process) Regulations, 2017.2020-08-1001 min
VListenEpisode 30 - IBBI amends the Insolvency Resolution Process Regulations on August 7, 2020The IBBI amended the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016. We believe that these amendments will help in uniformity in the practices adopted by Insolvency Professionals for selection of and voting by Authorised Representatives and voting on resolution plans by CoC.
Listen to our Podcast to know the amendments.2020-08-0802 min
VListenEpisode 29 - IBBI is empowered to levy fee as a percentage of annual remuneration drawn as an IP: Madras HCThe power of the Insolvency and Bankruptcy Board (the "IBBI") to levy fee of 0.25% of the professional fee earned for services rendered as an IP in the preceding financial year and also 0.25% of the turnover of an IPE in the preceding financial year and the regulations thereof were challenged before the Hon'ble High Court of Judicature at Madras.
In this case we will quickly discuss how the Hon'ble High Court addressed this case.2020-08-0704 min
VListenEpisode 28 - State Bank of India vs. Ushdev International Ltd - An Interesting Debate on Commercial Wisdom of the CoCIn this podcast we discuss an interesting case where the Adjudicating Authority made critical comments on the so-called Commercial Wisdom of the Committee of Creditors. It emphasised that the CoC has not at all applied its mind and that there was no element of wisdom displayed, leave alone the 'commercial wisdom'. Having said so it rejected the decision of the CoC to liquidate the Corporate Debtor and approved the resolution plan which was originally rejected by the CoC. Am not sure if it surprised you, but it did surprise me to a large extent. But, how in the world...2020-07-2406 min
VListenEpisode 27 - Raninga Ispat Private Limited (RIPL) | CIRP | Case Study | Insolvency & Bankruptcy Code, 2016 (IBC)The Adjudicating Authority admitted an application filed under S.7 of the Insolvency & Bankruptcy Code, 2016 (IBC) which was later set-aside by the NCLAT. Before it is set-aside the corporate debtor had incurred certain CIRP Cost. Who shall bear these expenses? Is it the Applicant FC alone or proportionately by the members of CoC? Listen to our podcast to know the answer.2020-07-2303 min
VListenEpisode 26 - Albanna Engineering (India) Pvt. Ltd. | Group Insolvency | Case Study | Insolvency & Bankruptcy Code, 2016Case Studies are always fun and we want to make it much easier. Mr Vineeth Vakiti, an alumni of NLU, Visakhapatnam and currently pursuing Graduate Insolvency Programme worked on this case brief and narrated the same.
Albanna Engineering is a critical case on Group Insolvency where the Parent Company is incorporated in Dubai.2020-07-2104 min
VListenEpisode 25 - Liquidator of Surana Power Ltd. Vs. BHEL - Lien vs. HypothecationIn this podcast we will brief you on the NCLAT order in the matter of liquidation of Surana Power Ltd., the Corporate Debtor.
The Adjudicating Authority had admitted application filed by operational creditor under Section 9 of the Code for initiation of CIRP against Surana Power Ltd. With non-receipt of any resolution plan, the corporate debtor was ordered to be liquidated.
One of the operational creditors Bharath Heavy Electricals Ltd. (BHEL) had succeeded in an arbitration proceeding against the corporate debtor. The Arbitral Award declared BHEL as an unpaid seller and accordingly granted lien over the...2020-07-1604 min
VListenEpisode 24 - Immunity from Criminal Prosecution - Section 32A of IBCIn this podcast Mr Ali discussed on the Immunity provided to corporate debtors from criminal prosecution after approval of resolution plan.2020-06-2604 min
VListenEpisode 23 - Judicial Intervention and IBCIn this podcast we discuss as to how the judicial intervention of NCLT, NCLAT and Supreme Court helped establish the objective of the Insolvency and Bankruptcy Code, 2016.2020-06-1605 min
VListenEpisode 22 - Cardinal Principles of Corporate Insolvency LawIn this week's podcast we quickly summarise the five cardinal principles of Corporate Insolvency Law.2020-06-1202 min
VListenEpisode 21 - Ex-Employee of Financial Creditor cannot act as IRP: NCLAT in SBI vs. Metenere LtdA quick summary of the decision taken by the NCLAT in the matter of SBI vs. Metenere Ltd .2020-06-1102 min
VListenEpisode 20 - Overview on Pre-Packs by CA Archit GuptaWith the suspension of IBC due to the COVID-19 pandemic, introduction of Pre-Packaged insolvency mechanism in India seems to be inevitable. In this week's podcast we give a quick overview on the pre-packs.
Speaker:
CA Archit Gupta, is a chartered accountant, having experience of more than 3 years in various fields of the profession including forensic audit, valuation, indirect taxation, statutory audit, etc. He is DISA qualified and holds a certificate on forensic audit and fraud prevention issued by ICAI. He has also cleared the exam for registered valuer for asset class of securities and financial assets...2020-06-0504 min
VListenEpisode 19 - So Close Yet So Far - A Comparison of Schemes with Resolution Plan and Liquidation as Going ConcernSchemes of Compromise and Arrangements, Corporate Insolvency Resolution Process and Liquidation as Going Concern are three different concepts having similar output, which is saving the distressed entity.
Through this podcast we discuss the differences between the three.
Speaker:
Mr. Aditya Guptais a chartered accountant and electronic engineer. He is also the member of IISLA (Indian Institute of Surveyor & Loss Assessor). Currently, he is pursuing Graduate Insolvency Programme to become and Insolvency Professional.2020-05-2807 min
VListenEpisode 18 - Competition Act and IBC : Failing Firm Defence for Green Channel approval of casesThe green channel approval has been recommended for combinations arising out of IBC for the first time in the Report of Competition Law Committee. In this podcast we discussed the possibility of launching Green Channel Automatic Approval route for IBC Cases and the concept of Failing Firm Defence.
Speaker:
Mr Divyansh Dev is an Advocate currently training as Insolvency Professional under Graduate Insolvency Programme (GIP) at IICA, Ministry of Corporate Affairs, Government of India. By 2021, he will be among the youngest Insolvency Professionals in India - who would be duly recognised by Insolvency and Bankruptcy B...2020-05-2106 min
VListenEpisode 17 - Company Voluntary Arrangements in the United Kingdom (UK)In this podcast we discuss the concept of Company Voluntary Arrangements under the Insolvency Act, 1986 of the United Kingdom and how different it is from the Scheme of Compromise and Arrangements.
Speaker:
Mr. Aditya Guptais a chartered accountant and electronic engineer. He is also the member of IISLA (Indian Institute of Surveyor & Loss Assessor). Currently, he is pursuing Graduate Insolvency Programme to become and Insolvency Professional.2020-05-0805 min
VListenEpisode 16 - Essar Steel Verdict: A Critical AnalysisIn a resolution plan there can be no difference between a financial creditor and an operational creditor in the matter of payment of dues, and that therefore, financial creditors and operational creditors deserve equal treatment under a resolution plan.
This was the order passed by the NCLAT in the matter of Essar Steel and accordingly, the NCLAT has re-distributed the proceeds payable under the approved resolution plan as per the method of calculation adopted by it so that all financial creditors and operational creditors be paid 60.7% of their admitted claims. This order has raised severe concerns in...2020-04-3021 min
VListenEpisode 15 - FDI Policy: Changes due to COVID-19Foreign Direct Investment is promoted by developing economies like India, in order to supplement domestic capital, technology and skills to ensure accelerated economic growth. Accordingly, Department of Industrial Policy and Promotion of the Ministry of Commerce and Industry adopted the consolidated FDI policy in India with effect from August 28, 2017.
With the onset of COVID-19 pandemic in India, in order to curb opportunistic takeovers/acquisitions of Indian companies, the Government of India has reviewed the FDI policy and accordingly amended the same. Consequentially, the Department of Economic Affairs of the Ministry of Finance notified the Foreign Exchange Management...2020-04-2813 min
VListenEpisode 14 - Prudential Framework for Resolution of Stressed Assets in India: Critical analysis of the COVID-19 Regulatory PackageThe June 7, 2019, direction issued by the Reserve Bank of India provided for prudential framework for resolution of stressed assets outside Insolvency and Bankruptcy Code, 2016 (IBC). This provides for an opportunity to the promoters to restructure the debt before ending up being ineligible under the IBC. However, with the advent of COVID-19 the sources hint that sections 7, 9 and 10 of the Code shall be suspended for a period of 6 months to a maximum of one year. This shows that the banks have no other option but to initiate steps under the June 7 direction. Hence, this direction issued by the RBI will...2020-04-2513 min
VListenEpisode 13 - Liquidation Process on a Going Concern basis in IndiaSale of Corporate Debtor as going concern was introduced in March 2018 as one of the methods of sale of assets in IBBI (Liquidation Process) Regulations, 2016. Later in October 2018 the concept of sale of business of the corporate debtor as a going concern was introduced. Liquidation on going concern basis has now become the first endeavor of the liquidators before proceeding for any other methods of sale. Through this podcast, we discuss in detail the various intricacies of the concept of "Liquidation as a going concern" including the international precedents in this regard.
Speaker: CA Sarthak Ohri is...2020-04-2323 min
VListenEpisode 12 - Cash Flow Monitoring during CIRP : A double-edged swordCash Flow Management is the most critical aspect of any company and moreover, in a company undergoing insolvency it becomes the foremost task. In stress situations of corporate borrowers, the Banks usually opt for cash flow monitoring to ensure that they closely monitor the inflows and outflows.
In this context, we discuss the process of cash flow monitoring and how it can be a double-edged sword during Corporate Insolvency Resolution Process (CIRP).
Speaker:
CA Parshva Shah, Chartered Accountant from Mumbai having two years of experience in the insolvency sphere and is currently undergoing...2020-04-1610 min
VListenEpisode 11 - Companies Fresh Start Scheme 2020 | A Practitioner's Perspective | by CS Sharath Chandra | VirtuaLawA special episode on Companies Fresh Start Scheme 2020 which can be used by resolution professionals during CIRP.
Speaker: CS Sharath Chandra, is the founding partner of M/s Sharath & Associates, Company Secretaries who is an young company secretary in practice from Hyderabad. He can be followed on LinkedIn using the following link: https://www.linkedin.com/in/sharath-chandra-6477949a/
His area of practice includes Drafting agreements for Corporate Investments, Foreign Direct Investments, Corporate Structuring, Strategising and execution of Mergers and Acquisitions, Corporate Compliance Management, Advisory in relation to Corporate Insolvency, Appearance before National Company Law T...2020-04-101h 08
VListenEpisode 10 - Swiss Ribbons Pvt. Ltd. V. Union of India - Constitutional Validity of the CodeWith the enactment of the Insolvency and Bankruptcy Code, 2016 ("Code" or "IBC") there has been a paradigm shift in the way the insolvency proceedings are being handled. The law provided for only two classes of creditors, one the operational creditors and the financial creditors. The way their rights are ascribed under the code, attracted judicial scrutiny.
Being an economic legislation where time bound resolution is major focus, the supreme court of India addressed the issues under IBC in a speedy manner. On January 25, 2019, the Hon'ble Apex Court pronounced a landmark judgement in the case of Swiss Ribbons P...2020-01-2519 min
VListenEpisode 9 - Marriage of Indian Real Estate Sector and Block Chain Technology by Ms. Ankita SaxenaSpeaker: Ms. Ankita Saxena is an Electrical and Electronics Engineer who is currently pursuing her course on Block Chain Technology for Business Enterprises from INSEAD, Singapore. This podcast is based on the research done by the speaker on the applicability of Block Chain Technology in the Indian Real Estate Sector and as to how it can be integrated. The benefits of such technology for the Insolvency Professionals, is also briefly covered. Keep listening to VListen!2019-11-1915 min
VListenEpisode 8 - Slump in Indian Real Estate Sector by Mr Kunal M PhatangareName of the Speaker: Mr Kunal M Phatangare
Mr Kunal M Phatangare is an Advocate and Partner at M B Phatangare, Legal Consultants and Services, Nashik.
The real estate sector is under radar in the Indian economy and the difficulties of the stakeholders including government and home buyers have not been resolved yet. With the collapse of IL&FS and DHFL, the concentration on this sector has increased multi-fold.
In this episode we discuss the probable reasons for such slump in the Indian Real Estate Sector.
Keep listening to VListen!2019-11-1810 min
VListenEpisode 7 - Start-up Funding - by Mr. Vibhor Gupta, Chartered AccountantSpeaker: Mr Vibhor Gupta
Mr Vibhor Gupta is a Chartered Accountant who has worked in boutique investment banking companies and asset restructuring companies. With his expertise in finance, he handled various funding projects for startups.
For any startup to achieve its dream, one of the most important elements is funding. This podcasts helps the present and prospective investors to understand as to how startups can raise funds.
Keep listening to VListen!2019-11-1809 min
VListenEpisode 6 - RERA - An Overview by Mr Manoj BasniwalSpeaker: Mr Manoj Basniwal
Mr Manoj Basniwal is a Chartered Accountant and a Certified Financial Planner who has experience working in real estate company and who also appeared before the Real Estate Regulatory Authority.
The Real Estate (Regulation and Development) Act, 2016 ("RERA"), was enacted to establish the Real Estate Regulatory Authority for regulation and promotion of the real estate sector of India with special focus on protection of the interest of consumers in the real estate sector.
Through this season on RERA we will deliberate on various issues addressed by RERA and the...2019-11-1814 min
VListenEpisode 5 - Restructuring of companies through schemes - an introduction by Mr Vijay S, Corporate LawyerSpeaker: Mr Vijay S
Mr Vijay is an advocate whose experience is majorly in the field of restructuring. He is currently researching on the concept of schemes and restructuring and as part of our podcasts we will get to listen to various interesting issues from him across various episodes in the entire series.
Click here to follow Mr Vijay on LinkedIn: https://www.linkedin.com/in/vijay-sekar-047a00117/
Restructuring of a business is a field on its own where there are no ready-made strategies available to adopt. Each deal has its unique nature...2019-11-1715 min
VListenEpisode 4 - Is early warning of stress need of the hour for Indian Insolvency Regime? by Mr Aditya Gupta, C.A. B.E.Speaker: Mr Aditya Gupta
Mr Aditya Gupta is a chartered accountant and electronic engineer who had an earlier experience in providing audit services to banks. .He has also acquired the Surveyor License from IRDA in Fire Insurance,Marine Cargo Insurance and Miscellaneous Insurance.He is also the member of IISLA( Indian Institute of Surveyor & Loss Assessor).
He has also written an article on "How robust is Indian Insolvency Law vis-a-vis other Developed Nations?" comparing the insolvency regimes of five countries, viz., USA, UK, SIngapore, UAE and China with that of Indian insolvency framework.
Click here to follow Mr Aditya Gupta...2019-11-1713 min
VListenEpisode 3 - Integration of Information Utilities and Block Chain Technology by Mr Pranjal Mahajan, Ind. EngineerSpeaker: Mr Pranjal Mahajan, Mr Pranjal Mahajan is an Industrial Engineer who has vividly researched on block chain technology and his article on Bitcoin Lightning Network was published by Coinsutra (https://coinsutra.com/bitcoin-lightning-network/).
Click here to follow Mr Pranjal on LinkedIn: https://www.linkedin.com/in/pranjal-mahajan-41298299/
Information Utilities are credit repositories which predominantly serve as a repository of legal evidence holding the information pertaining to any debt/claim, as submitted by the operational or financial creditor and verified and authenticated by the other parties to the debt.
The major role of an In...2019-11-1714 min
VListenEpisode 2 - Practical difficulties in handling CIRP with special focus on EPC Companies by Ms. Diksha SharmaSpeaker: Ms. Diksha Sharma
Ms. Diksha Sharma is a Chartered Accountant who worked as a Financial Analyst with NTT Data Services and her most recent experience includes working in the core team of a Resolution Professional of an Engineering, Procurement and Construction (EPC) Company.
Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code, 2016, totally changed the rules of the game of insolvent companies. Unlike earlier insolvency regime, the current regime provides for creditor-in-control model.
During CIRP, the powers of the Board get suspended and the same stand transferred to a Resolution Professional ("RP"). Hence, an RP takes over...2019-11-1715 min
VListenEpisode 1 - What went wrong with SICA? by Mr Sarthak Ohri, Chartered AccountantSpeaker: Mr Sarthak Ohri, Chartered Accountant
The Sick Industrial Companies (Special Provisions) Act, 1985 ("SICA"), was enacted to make special provisions for the timely detection of sick (and potentially sick) companies owning industrial undertakings. The Board for Industrial and Financial Reconstruction ("BIFR") was formed under the SICA to determine the sickness of such industrial companies and to prescribe measures either for the revival of potentially viable units or the closure of unviable companies.
With the advent of the Insolvency and Bankruptcy Code, 2016, the SICA has been repealed by the Sick Industrial Companies (Special Provisions) Repeal Act, 2003 (“Repeal Act”) with effect from Dece...2019-11-1717 min