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CIRP

Sir as we know ki during cirp co k against agr koi pending suit h toh woh continue nhi hoga but agr yh suit co k koi disputed asset ko leke h toh continue hoga kya?

Regarding IBC, 2016 bare act for December 2022

Sir I had a doubt regarding the bare act which we need to take for December 2022, as the one uploaded in the Google drive link is of August 2021, so from where we need to download the IBC bare act and of which date?

decision by committee of creditors

Sir as we know ki majority decision COC 66%se leta h but if nothing is said than we will assume 66% or 51%?

Crpc & IBC

Sir if there is contradiction in the provisions of special act nd CRPC than what will prevail?

IBC

Sir IBC 2016 m can a cirp is done against the company which defaulted before the code come into force

Should I buy module’s and bare acts

Sir, Will I need to buy module and bare acts for IBC and MCS for exam? As I’ve just started watching lectures and my exam is in December 2022.

Insolvency amendments

Sir... Are there any amendments in Insolvency laws and where can we find them?

Can a COC be formed with less than 10 FC's

Can a COC be formed with less than 10 FC, if not then what if a company has less than 10 FC, how would a COC be formed in such a case.

Committee of Creditors

Who will be the part of COC? In what circumstances OC and FC both include in COC. And in which cases COC includes only FC or OC

PPIRP

Sir , as per section 54A(2)(d) corporate debtor is eligible to submit a resolution plan under section 29A , my question is that considering the provisions of section 29A how can a corporate debtor is eligible to submit resolution plan as there are some NPA or some other things thatwhy it is undergoing ppirp

DISPUTED CLAIM UNDER IBC

What will happen to disputed claims in CIRP proceedings, whether it will borne by the new management

Prepackaged insolvency resolution process

Sir actually there is no class for pre packaged insolvency resolution process in the link which u provide..how we can watch this class...

Authorised representative to seek preliminary views

Sir please explain the following provision Time window of at least 12 hours to submit their preliminary views and the said window should open at least 24 hours after the authorised representative seeks preliminary views

Section 53 of IBC

Once company declare dividend then it becomes an enforceable debt on the comapny, but if after declaration company goes into CIRP and it leads to winding up, will the declared dividend is considered as debt. If yes then it ranked above preference shareholders in waterfall arrangement (i.e any remaining debts and dues)

CIRP

reference IBC class notes [sir i got some confusion in this 2 case] Page 3.40 Radius Infratel pvt.itd case & page 9.3 steel konnect (india) pvt ltd case erstwhile director , officer or there authorised representative , shareholder file appeal on behalf of CD ye interpretation right hai kya i confuse because of ....conten in image

IBC FAQ's no 30

Sir , in this faq it is stated that no adjustment can be made by the corporate debtor against any amount even if the corporate debtor acts as the creditor in that transaction But sir ese koi bhi transaction jo corporate debtor ke loye beneficial hai wo to allowed hote h na?

Persons who cannot initiate IBC

Under sec 11,if violation made by one FC only he is disqualified to initiate CIRP, or all other FC's get disqualified?

Section 11 person not entitled to make applications

sir in point c it is written a corporate debtor or a financial creditors who has violated any of the term of resolution plan which was approved 12 months before. But agr violation corporate debtor ne kiya hai and fresh applications koi aur financial creditors dena chahta hai toh woh bhi not entitle hoga?

Section 43

If the XYZ ltd. requests to borrow from an existing unsecured creditor Mr.A a fresh sum of amount over his existing loan, Mr.A agrees to the loan provided he is converted into a secured creditor for the total amount owed to him by the company, will this transaction come under section 43 or will it be considered as a valid transaction?

Section 46&47 undervalued transaction

Is employee considered a non-related party in section 47? As it was mentioned before in section 43.

coc mettings

RP ARE REQUIRED TO GIVE NOTICE OF MEETING TO SUSPENDED BOARD ALSO BUT IF AGGRIGATE DUES ARE MORE THAN 10% THEN THEY CAN'T ATTEND MEETING AS WELL AS NOT LIABLE TO RECEIVE NOTICE......RIGHT????

Section 52 secured creditor

Sir agar creditor realise it's security interest outside the liquidation ka option avail krta h. Assume kr rahe Agr koi asset 10 cr ki or wo creditor ne 12cr ki sale kardi toh jo liquidation cost hogi wo konse value se deduct hogi 10cr ya 12cr .

Allottees under real estate project

Section 7 of IBC tells that allottees under real estate project can file case jointly by not less than 100 allottees or 10% of total number of allottees...so can we conclude that single allottee can not file case even if his default is more than 1 cr rupees

CIRP

Sir why financial service provider is not included in the definition of corporate applicant

Withdrawal of application of CIRP

An operational creditor withdrew his application on the basis of an settlement between OC and CD. Afterwards the CD failed to address the grievance of OC for which they reached the settlement. What remedy is available for OC in this regard and what is the time limit available to OC to proceed against CD?

Voluntary Liquidation (Section 59)

Can a company opt for voluntary liquidation even if he is unable to pay his dues to creditors? Or he should file an application under section 10?

Interim finance

Pls explain the point of interim finance for irpro

Payment to operational creditors in liquidation

In guideline answer of June 21 questions no 6(b) last line- it states that the unsecured financial creditors will rank above the Operational Creditors but there is no difference for payment in liquidation because difference is between Secured and unsecured creditors in fact section 30 of IBC also states that oc and dissenting creditors has to paid before payment to FC

New edition

Sir I have edition 2.2 of ibc and there are many changes due to which I now have lots of additional material to handle in the exam room according to me it will consume much time. Could you please allow me new edition lecture and notes at additional cost or any other suggestion as per you. Sir please help.

Last date for submission of claim after public announcement

Sir how many days the creditors get to submit their claim after public announcement. Is it 14 days. If yes, then please tell where it is written, in which regulation or in which section.

Clause b of sub section 2 of section 30 of IBC

Sir ye shall not less than jo bol rhe hai ye kisse comparison kar rhe hai

Evaluation matrix

Sir what is evaluation matrix ?

Section 29A of IBC

Sir i have one doubt in IBC, please help me to solve this.. if one Company is in IBC and Mr. D and Ms. V husband and wife are directors of that company and Mr. P father of Ms. V and F-I-L of Mr. D wants to become Resolution Applicant then Can he become Applicant as per Section 29A?? plss answer sir.

Section 2 of ibc

Whether ibc applicable on foreign company also. (Foreign company as per companies Act)

Book Reference

Sir mere pass Edition 1 aapke first batch ka book hain IBC ka usme sab marking and Accident points likhe hain isliye easily sab samjh raha usme se.......But wo sufficient hain kya December 2022 exam ke liye ki Naw wala 4th Edition karna hoga......Maine new edition liya hain but isme hard ka raha hain samjhne ko.....So plz guide sir I will be very thankful for that....

Open book

Good afternoon sir Which all books can i carry? And which should I carry? Also I have made notes in a separate register am I allowed to take that...? And i have written a lot in the book? Will it be a problem?

IBC BARE ACT

Hello sir! Much love and gratitude to you✨ Kindly share the link of IBC BARE ACT relevant for December’2022 examination. Thank you in advance🌻

Drive link in notes

Sir, as you very said in the lectures of IBC that the files will be uploaded on Drive link but there are no such files uploaded like bare act sec list and other lecture summary so from where we can get that???

Rights and duties OF AUTHROIZED REPRESENTATIVES

I didnt undertand point 3A please explain meh in detail with an example

Regulation 3 ELIGIBILTY OF R.Pro.

Which one is correct?

Section 43 of IBC

Sir yh jo new value boli hai isme jo yh release by transferee of property previously transferred to such transferee in a transaction'' wali line smjha dijiye because mne yh lecture mai dubra dekh k krr lena tha but watch time over ho gya hai toh dekhh nhi skti Toh aap yh doubt solve krr dijiye

Expression of interest issued by r pro

Sir mujhe isme confusion hai 75th day kaha se shuru hoga yeh days ki puri series me thoda confusion hai Sir aap please koi eg with dates deke bata sakte hai

Quorum and notice of the meeting

1.quorum at the meeting In regulation 22 of the insolvency and bankruptcy board of India( insolvency process for corporte person) a meeting of coc shall be qurorate if member of coc representing 33% of voting right are present provided that the committee can modify the percentage of voting rights required for quorum in respect of any future meeting. This means coc 33% se less or more kar sakti hai voting right for quorum? 2. Notice of meeting. In case of authorized representative, do we have go give notice to both member as well as authorized representatives? 3. When nclt approve the resolution plan cirp gets over and the period of 180 days is not applicable on implementation of resolution plan?

Amendment sheets Latest edition 3 for IBC

Sir if we have purchased the latest edition 3 of IBC for December 22 attempt, Do we need to refer the additional amendment sheets as given by you for IBC amendments or it is all covered in the latest edition 3?

Section 29A clause C

The doubt is when the corporate debtor is itself declared as NPA and is undergoing CIRP then how can it still payoff it's debts for letting its promoter, management or controlling entity to let them be a Resolution Applicant for the same company?? Kindly help not clear with this.

Section 11

Sir whether against a corporate debtor (who itself is not eligible to make application for cirp) application for cirp be filed by its FC or OC Sir agr koi corporate debtor section 11 mein cover ho jata hai toh iska mtlb wo section 10 mein khud j against cirp k liye apply nhi kr skta but sir kya aise corporate debtor k against uske FC aur OC cirp initiate krva skte hai ??

Section 25 and section 14

Sir mujhe ismein doubt hai ki it's telling in section 14 that once the moratorium period will start whatever the proceedings in the court will be kept on hold and no one can institute suit, continue it or can execute the judgement etc but the other way in the section 18 and 25 it's saying that the that resolution professional will represent in court or arbitration or any proceedings on the behalf of the corporate debtor so is there is some contradiction in this thing

Section 18

Section 18 also specify the asset that cannot be taken over under the said section the explanation appended to section 18 provides that for the purpose of this section the term asset shall not include the assets of any Indian or foreign subsidiary of a corporate debtor So my question is than any corporate debtor can plan in such a way that he will take heavy loans and also he will transfer assets from this company to it's subsidiary by showing genuine accounting transaction and then after few months he will come for voluntarily to ibc for CIRP.. so is it not a loophole of law or m I understanding in wrong way?

Insolvency Resolution of Corporate Persons

What is tie breaker formula?

Which ibc bare act to carry

Sir in the drive link bare act pdf till Aug 21 is there ....please tell me that which bare act pdf to carry ( last date of amended pdf) so that we can get its print done....🙏🔥

Express of Interest ( time limit)

Invitation of EOI has to be given within 75 days from commencement of CIRP ? 75th day means max. 75th day tak de skte hai ?

SEC 53 WATERFALL ARRANGEMENT

CHAP 7 LIQUIDATION OF CORPERATE PERSON Sir in section 53 if eg workmen dues is for 30 months and employees wages is for 15 months so the balance money of 6 monthe in workmen dues and 3 months of employees dues would form part of remaining debt and dues as i saw this type of question in one past question And who would all be included in unsecured creditor CHAP 8 VOLUNTARY LIQUIDATION Sir you have made some changes in timre period of certain events but when i was solving past year paper the days were as mentioned in module and not the changes you made And from which date these all day shall be counted like from insolvency commencement date ?

Section 17 & Section 20?

Sir, what is the basic difference between Section 17 & 20 of IBC, 2016? In both of the section the management shifts to IR Pro. I'm not able to identify how management of affairs of CD is different from management of operations of CD.

Confidentiality

Resolution plan should not be disclosed to any applicant ( competitive applicant) , but can be disclosed to coc . My doubt - if any member of coc is resolution applicant too then resolution plans of other RA will be disclose to him or not in term of confidentiality

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