Description
Taxmann Insolvency and Bankruptcy Code Ready Reckoner by V.S. Datey
This book offers a comprehensive and detailed commentary on Insolvency and Bankruptcy laws in India, organised by topic for ease of reference. It encompasses an in-depth analysis of the following key legislations:
Insolvency and Bankruptcy Code, 2016 (IBC)
Recovery of Debts and Bankruptcy Act, 1993
Securitisation and Reconstruction of Financial Assets and Enforcement of Securities Interest Act, 2002 (SARFESI Act)
This book routinely addresses the practical challenges that professionals encounter, offering precise and complete information on all Insolvency and Bankruptcy law provisions.
It is crafted to be an indispensable resource for a wide range of professionals and scholars, including:
Legal Practitioners & Law Firms handling corporate insolvency and bankruptcy matters
Corporate Professionals (including Company Secretaries, Chartered Accountants, and Cost Accountants) who advise on insolvency, liquidation, and restructuring
Financial Institutions & Banks focusing on resolution plans, credit management, and recovery
Insolvency Professionals (IPs) & IP Entities (IPEs) seeking a comprehensive guide for day-to-day reference
Academicians & Students specialising in corporate law, finance, or business restructuring
The Present Publication is the 2025 Edition, updated till 1st February 2025. It is authored by V.S. Datey with the following noteworthy features:
[Comprehensive Analysis] Presents an in-depth explanation of the entire IBC framework, including corporate insolvency, bankruptcy for individuals, partnership firms, and more
[Practical Ready Referencer] Detailed insights on critical procedures like corporate insolvency resolution (CIRP), liquidation, and voluntary liquidation
[Focus on PPIRP] Covers the Pre-packaged Insolvency Resolution Process (PPIRP) for MSMEs with step-by-step clarity
[Illustrative Examples] Practical cases, scenarios, and interpretative guidance help professionals navigate complex insolvency processes
[Quick Referencer] Features tables, section indexes, acronyms, and well-structured headings for swift navigation
The coverage of the book is as follows:
Initiation & Conduct of CIRP
From the filing of applications by financial/operational creditors to the appointment of resolution professionals and the formulation of resolution plans
Committee of Creditors (CoC)
Constitution, powers, and decision-making processes.
Moratorium & Public Announcements
Detailed discussion on the legal effect of moratorium and obligations of stakeholders
Resolution Plans
Eligibility conditions (Section 29A), drafting resolution plans, approval by CoC, and subsequent approval by the Adjudicating Authority (NCLT)
Fast Track Resolution
Special provisions and procedural framework for faster disposal in specific cases
Pre-Packaged Insolvency Resolution Process (PPIRP)
Eligibility for MSMEs
Steps before making an application
Conduct of the process and CoC involvement
Submission and approval of resolution plans
Termination and transition to CIRP if needed
Liquidation & Voluntary Liquidation
Liquidation estate, powers/duties of the liquidator, priority of claims, and distribution of assets
Bankruptcy for Individuals & Firms
Application, moratorium, repayment plans, and discharge orders
Cross-Border Insolvency
Provisions and enabling mechanisms for overseas asset realisations
Offences & Penalties
In-depth coverage of offences under the Code and the relevant punishments
Adjudication & Appeals
Roles of NCLT, NCLAT, DRT, DRAT, and the Supreme Court; timelines and procedural aspects
Registered Valuers & Valuation
Qualifications, role, and regulatory requirements for registered valuers
The structure of the book is as follows:
Chapter-wise Commentary – The book is divided into 22 chapters, beginning with the declining stage of an organisation and culminating in procedural aspects before various tribunals
Logical Flow – Each chapter unfolds systematically—starting from the background and fundamental definitions to step-by-step procedures and concluding with case laws and practical insights
Tables & Illustrations – Helpful charts, tables, and bullet points break down complex sections of law, aiding quick comprehension
Acronyms & Section Index – A dedicated section index and acronym list ensure easy cross-referencing and effortless navigation
Subject Index – A quick locator for specific topics, judgments, or provisions spread throughout the text