PPT-Insolvency Resolution &

Bankruptcy for Individuals amp Partnership firms Fresh Start Eligibility Conditions Maximum Gross Annual Income of Rs 60000 Maximum aggregate value of assets . 2. . . Accepted indicators of insolvency. 3. . What is a shadow director?. 4. Could a . book-keeper be a shadow director?. Introduction. Brendan Nixon and Dikesh Bulsara, . Directors. . Stanley Morgan Accountants is . - Landmark reform. . CS. ANIL MURARKA. - . PAST PRESIDENT – ICSI & CSIA. - PRACTISING COMPANY SECRETARY. NEED . (1/3). Existing Mechanism – Inadequate & Ineffective :. No single Law dealing with IB in India;. . insolvency. When liabilities exceed assets. Only legally insolvent when sequestrated by order of court. sequestration. A sequestration order is a formal declaration that a debtor is insolvent. The order is granted at . Corporate Insolvency & Its Resolution Process – a Future perspective. Underneath. Presentation by . A. K. . Kuchhal. Managing Partner. IndiaCorp. Law. Corporate Consultants and Advocates. In association with M/s A. K. . . insolvency. When liabilities exceed assets. Only legally insolvent when sequestrated by order of court. legislation. In South Africa the . Insolvency Act 24 of 1936 . deals with insolvency . sequestration. 1. Agenda. Economic rationale behind instituting a bankruptcy regime. Institutional architecture of Insolvency and Bankruptcy Code (IBC), 2016. Role of IBBI under IBC, 2016. Progress made so far. Things to look forward to in future. process . &. liquidation for . corporate. . entities. Corporate insolvency. . Resolution. process: initiation . and. . commencement. Who can. . trigger?. ▫ . A financial creditor (solely or jointly),. Code, . 2016 . and . SARFAESI . Act. AAA Insolvency Professionals LLP. New. . Delhi. E-10A, LGF, Greater Kailash, New Delhi, 110065. E:. Email:. 4. Journey of . the. . Code. Need . for . bankruptcy . Council . For Fair Business Practices. “. Our Mission.  . “We shall promote the highest ethical practices, by business & professionals, in order to Provide complete satisfaction to consumers & other stakeholders.”. . Code, 2016. Presented by – Akshay . Kallil. Chief Editor- Amita Desai. 1. AMITA DESAI & CO. The . Insolvency & Bankruptcy Code . (the Code) received . the assent of the President on 28. th. reiterated by Elizabeth Turner, European counsel with investment Lack of holistic remedy. Insolvency resolution framework for Individuals stagnant for over 100 years!. The 1861 Indian High Courts Act led to the setting up of the High Court system in place of the Presidency towns Supreme Courts, which also has jurisdiction over insolvency. Barbara Cookson, . Filemot. Technology Law Ltd . Tim Pope, . Drydensfairfax. Solicitors . Individual Insolvency Bankruptcy . Individuals including sole traders and members of partnership. Creditors Bankruptcy petition if owed £5000 or more or debtors application to adjudicator. By CA . Rajmohan. R. MCom. , FCA, ACS, IP, CAIIB, . DISA,FAFD,ID. Partner . . M/s SVAR & Associates, Chartered . Accountants. Mob . : 9946823989. carajmohan@gmail.com. Disclaimers. T. hese are my personal views and can not be construed to be...