Introduction Financial distress experienced by Micro, Small, and Medium Enterprises (MSMEs) in India is often not an indication of fundamental business weaknesses but rather the result of external shocks like delayed payments, supply chain disruptions, or working capital gaps. Traditional insolvency proceedings under the Insolvency and Bankruptcy Code (IBC) have proven to be costly, time-consuming,…
Introduction The Insolvency and Bankruptcy Code, 2016 (hereinafter referred to as “IBC”) has reshaped India’s approach to insolvency by establishing a clear, time-bound, and transparent mechanism aimed at protecting stakeholder interests, ensuring fair outcomes, and supporting economic stability. Within this framework, Form G occupies a pivotal position in the Corporate Insolvency Resolution Process (CIRP), acting…
Introduction In India’s insolvency ecosystem, the Committee of Creditors (CoC) occupies a pivotal position within the Corporate Insolvency Resolution Process (CIRP) framework established by the Insolvency and Bankruptcy Code, 2016 (IBC). After the National Company Law Tribunal (NCLT) admits a company into the CIRP, the interim resolution professional collects and validates claims and forms the…
Introduction The Insolvency and Bankruptcy Code, 2016 (IBC) has emerged as a cornerstone of India’s economic reforms, providing a unified and efficient framework for resolving corporate insolvency. At the heart of the Code lies the Corporate Insolvency Resolution Process (CIRP)—a time-bound and creditor-driven mechanism aimed at reviving distressed companies or, when revival is not possible,…
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