The book covers detailed analysis and intricacies of Insolvency and Bankruptcy Code, 2016. It provides a comprehensive and pragmatic analysis of the Code by giving complete insight and an in-depth perspective of the Insolvency law in India including cross-border insolvency, group insolvency and personal guarantor. It covers insight on grey areas encountered by the Process Advisors in their professional practice. This book is a must-have which will provide interpretative guidance and will be a great support for insolvency law practitioners, insolvency professionals, lawyers, other professionals such as Chartered Accountants, Company Secretaries, Cost Accountants, Corporate Lawyers, Financial Institutions, Bankers & Lenders, Judges & Judicial Officers and students.
• Incorporates the entire Code with commentary alongwith Insolvency and Bankruptcy Rules and IBBI Regulations.
• Provisions of entire Code alongwith Rules and Regulations are explained in lucid manner.
• Provide clarity with purposive meaning to the complex issues and grey areas faced by professionals.
• Includes NCLT Rules, 2016 (as amended by Second Amendment dated 08 May 2019) and NCLAT Rules, 2016.
• Includes landmark decisions of Supreme Courts, High Courts, NCLAT and NCLT on various issues.
• Incorporates draft provisions of Cross-Border Insolvency (“Draft Part Z”) .
– IBBI (Voluntary Liquidation Process) (Amendment) Regulations, 2020 applicable w.e.f 15 January 2020.
– IBBI (Liquidation Process) (Amendment) Regulations, 2020 applicable w.e.f 06 January 2020.
– Insolvency and Bankruptcy (Insolvency and Liquidation Proceedings of Financial Service Providers and Application to Adjudicating Authority) Rules, 2019 applicable w.e.f. 15 November 2019.
– Covers Personal Guarantor Rules and Regulations applicable w.e.f. 01 December 2019.
– Covers Insolvency and Bankruptcy Code (Amendment) Ordinance, 2019 applicable w.e.f. 28 December 2019.
• Updated upto 1 February 2020.
About the authors
Ayush J. Rajani
Ayush is a Managing Partner of AKR Advisors LLP, Mumbai, in partnership with his wife and co-author, Mrs. Khushboo Shah Rajani (ACA, LLB.).
Ayush is Commerce Graduate and a Fellow Member of the Institute of Chartered Accountants of India, and have over 11 years of professional experience in the field of International Tax and Transfer Pricing. He was associated with Deloitte Haskins & Sells, Mumbai for a period of approx. 8 years as part of their International tax and Transfer Pricing team and subsequently established his own Advisory and Consulting Firm “AKR Advisors LLP”.
He has been actively representing Financial and Operational Creditors as well as the Corporate Debtors before the Hon’ble NCLT, pan India since January 2017. He has advised many Resolution Professionals managing Corporate Insolvency and Resolution Process of some of the Big Ticket Corporate Debtors across India as their “process advisors”. He has been advising the members of CoC on complex matters in a given situation. He is actively involved in restructuring, tax planning and other strategic assignments.
He is a regular speaker at various seminars on the subject, conducted by IIIPI – ICAI and other conferences enlightening the audience comprising of legal practitioners, leading bankers, insolvency professionals and others. He has contributed regularly in several articles in journals and online portals of repute.
He can be reached out at firstname.lastname@example.org.
Khushboo Shah Rajani
Khushboo is a Founder Partner of “AKR Advisors LLP”, Mumbai. She is Commerce Graduate, an Associate Member of the Institute of Chartered Accountants of India, and Law Graduate have over 10 years of professional experience.
She has vast experience in representing clients with regard to Complex Income-Tax and Transfer Pricing matters before the various High Court, Income Tax Appellate Tribunal. During her initial days as a professional, she has also gained immense knowledge when she was part of the litigation team assisting the team led by Mr. Harish Salve (Senior Counsel) for one of the most talked about Telecom client in India.
With the introduction of Insolvency and Bankruptcy Code, in 2016, she has been actively representing Lenders and Resolution Professionals before Hon’ble NCLT pan India and Hon’ble NCLAT in some of the most talked about corporate insolvency and resolution processes in the Country. She has been actively either advising the CoC members or Resolution Professionals on complex matters.
Khushboo is also a regular speaker at various Conferences held by ICAI and other organizations with regard to IBC. She has also been a faculty at Pre-Registration Educational Courses held ICAI for newly qualified Resolution Professionals.
She can be reached out at email@example.com.
Alka Adatia is a qualified Fellow Chartered Accountant and an All India Rank Holder in CA Exam, a certified Fraud Examiner (CFE), a certified Forensic Accounting and Fraud Detection (FAFD) and is also a registered Insolvency Professional.
She has over 15 years of experience & currently, an independent practitioner at Adatia& Co, a Chartered Accountants firm which provides specialized services along with her networking associates.
Her area of expertise in Forensics include Forensic Audit & Litigation Support, Corporate Fraud Investigations, Audit under the Code.
On the academic front, she has been a faculty for “Certificate Course on Forensic Accounting and Fraud Detection” at the ICAI and have imparted training to over 500 Chartered Accountants at pan India level.
She has worked as a visiting faculty at a coaching institute and has co-authored an accounting book on the title “Comprehensive Guide to Ind AS Implementation”.
She has also co-authored a paper on “The Leaning Tower of Corporate Governance” published by ICAI. She also holds a Bachelor’s degree in Commerce from Mumbai University.