Housing Loans for Non-Resident Indians (NRIs)
Non-Resident Indians (NRIs) seeking housing finance in India have access to a variety of loan options offered by commercial banks. These home loans generally carry interest rates starting from approximately 7.35% per annum, which may vary depending on the lending institution, loan type, and individual borrower profile. Interest rates may be either fixed or floating,…
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Pre-Packaged Insolvency Resolution Process for Stressed MSMEs under the IBC
Introduction The Pre-Packaged Insolvency Resolution Process (PPIRP) is a targeted mechanism introduced under the Insolvency and Bankruptcy Code (IBC) of India to address financial distress in Micro, Small, and Medium Enterprises (MSMEs). Designed to be faster, more economical, and less disruptive than the conventional Corporate Insolvency Resolution Process (CIRP), the PPIRP enables financially stressed MSMEs…
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Paradigm Shift in India’s Insolvency Framework: From Resolution to Liquidation under the IBC
Introduction The enactment of the Insolvency and Bankruptcy Code (IBC), 2016, marked a transformative shift in India’s approach to corporate insolvency and liquidation. The Code replaced the erstwhile debtor-in-possession model with a creditor-in-control framework, introducing a structured, time-bound mechanism for the resolution of financial distress. Its core objectives include facilitating faster resolution, maximizing the value…
Read article Legal Elements and Framework of the Insolvency and Bankruptcy Code
Introduction The Insolvency and Bankruptcy Code (IBC) provides a comprehensive legal framework for resolving financial distress faced by individuals and businesses in India. It outlines the processes, principles, and institutions involved in managing insolvency and bankruptcy cases in a time-bound and equitable manner. The Code incorporates several key legal elements including automatic stay, debtor obligations,…
Read article Understanding Insolvency and Bankruptcy: Key Definitions and Distinctions
IntroductionInsolvency and bankruptcy are closely related financial concepts, yet they represent distinct aspects of financial distress. Insolvency refers to a financial condition where an individual or entity is unable to meet debt obligations as they fall due. Bankruptcy, on the other hand, is a legal process that is initiated when such financial incapacity becomes unmanageable…
Applicability of the Insolvency and Bankruptcy Code, 2016: Scope and Key Provisions
The Insolvency and Bankruptcy Code (IBC), 2016 establishes a consolidated legal framework for the resolution of insolvency and bankruptcy in India. Enacted with the objective of ensuring a time-bound and structured resolution process, the Code applies to various categories of debtors, while expressly excluding certain regulated entities. Applicability of the IBC The Code is applicable…
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