Blog - VirtuaLaw

Is Priority Rights not a Priority?

In a recent ruling of NCLAT, 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 Author attempts to capture the existing position and the need for protection of priority rights inter-se Secured Creditors.

Vijay Sekar May 6

Insolvency Law

Prepacks for MSMEs

Download the presentation on Prepacks and watch the Video explaining the entire process of Prepacks as envisaged in the Ordinance.

Prakul Thadi Apr 11

Insolvency Law

Submission and Updation of Claims during Liquidation – Is there a difference?

July 2019 amendment to the Liquidation Regulations introduced the concept of updating of claims already filed during CIRP. The Article analyses this amendment to understand the difference between submission and updation of claims.

Manoj Basniwal Apr 2

Insolvency Law

Pre-packs & 29A

The Sub-Committee of ILC recommended retention of Sec. 29A for Pre-packs. The article recommends two key amendments, in light of this.

Prakul Thadi Feb 28

Insolvency Law

MCA Notification on minimum default of INR 1 Crore applies prospectively, clarifies NCLAT

The Hon’ble NCLAT clarified that the notification of MCA increasing the minimum amount of default to INR 1 Crore shall be applicable prospectively.

Ali Khan Mohd. Oct 15

Expert Articles

Smart Contracts – The Future?

While still being in an infancy stage, the Smart Contracts show a lot of promise in their future applications and uses. Through this Article, the Author explains as to how the smart contracts can make way for execution of key contracts by businesses in the future.

Sharath Chandra Sep 17

Creation of Pledge does not amount to debt under IBC

Insolvency Law

Does creation of Pledge of shares by CD constitute debt under IBC?

In the matter of Amtek Auto Ltd, the NCLT and NCLAT analysed the position of law with respect to creation of pledge vis-a-vis debt under IBC

Pallavi Aggarwal Sep 7

Insolvency Law

Madras HC: IBBI is empowered to levy fee as a % of Annual Remuneration drawn as an IP

The power of the Insolvency And Bankruptcy Board Of India (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.

Prakul Thadi Aug 18

Insolvency Law

When there’s no wisdom, how come “Commercial Wisdom”?

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’…

Prakul Thadi Aug 11

Insolvency Law

IBBI amends Liquidation Process and Voluntary Liquidation Process Regulations

IBBI Liquidation and Voluntary Process Regulations amended on 05.08.2020

Prakul Thadi Aug 8

VirtuaLaw Blog

Critical Analysis of Indian Corporate Laws

Is Priority Rights not a Priority?

Prepacks for MSMEs

Submission and Updation of Claims during Liquidation – Is there a difference?

Pre-packs & 29A

MCA Notification on minimum default of INR 1 Crore applies prospectively, clarifies NCLAT

Smart Contracts – The Future?

Does creation of Pledge of shares by CD constitute debt under IBC?

Madras HC: IBBI is empowered to levy fee as a % of Annual Remuneration drawn as an IP

When there’s no wisdom, how come “Commercial Wisdom”?

IBBI amends Liquidation Process and Voluntary Liquidation Process Regulations

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