Description
From the Foreword
First Edition
This commentary systematically deals with all key aspects of the Code, In its provision-wise discussion of the Code, the commentary is thoroughly supplemented by Committee Reports, subordinate legislation, and other orders as well as judgments of courts and tribunals, which is important given the interpretational concerns that may emerge in view of the Code’s infancy. Adding to its commitment
to nuance, the commentary provides a comparative understanding of insolvency law by contrasting the Code with the Insolvency Act, 1986 of the United Kingdom.
….The Practice and Procedure section of this commentary, which clearly explains the process for initiating proceedings under the Code, is particularly demonstrative of its focus on being accessible to a wide range of readers.
I am certain that this commentary will prove to be useful for professionals and non-professionals in equal measure, and I am delighted to recommend this valuable resource to all those seeking to understand and use the Insolvency Code.
– Justice Rohinton Fali Nariman
(Judge Supreme Court of India)
Consolidated General Contents
VOLUME 1
– Title Page
– Preface to the Second Edition
– Foreword to the First Edition
– Preface to the First Edition
– Publisher’s Acknowledgement of various books referred
– Introduction to the Second Edition-by Arvind P. Datar & Venkatavaradan
– Stop-Press- Additional Reference Material
– Arrangement of Sections
– Comparative Table
– Table of Cases
– Text of Commentary (Volume 1)
– Text of Commentary (Volume 2)
– Text of Appendices (See Volume 2)
– Subject Index
1. Insolvency and Bankruptcy Code, 2016
2. Economic Survey 2017-2018
3. Monetary Management and Financial Intermediation
4. Economic Survey, 2019-20.
5. Report of Insolvency Law Committee February 2020
6. Report of Committee on Cross Border Insolvency, October 2018
7. Committee on Cross-Border Insolvency
8. Amendments made in the Insolvency and Bankruptcy Code, 2016
9. IBC (Amendment) Ordinance, 2017
10. IBC (Amendment) Act, 2018
(a) Statement of Objects and Reasons
(b) Modification in BC (Amendment) Ordinance. 2017
11. IBC (Amendment) Ordinance, 2018
12. IBC (Second Amendment) Act, 2018
(a) Statement of Objects and Reasons.
(b) Modification in IBC (Amendment) Ordinance, 2018
13. IBC (Amendment) Act, 2019
(a) Statement of Objects and Reasons
14. IBC (Amendment) Ordinance, 2019
15. IBC (Amendment) Act, 2020 (w.e.f. 28-12-2019)
(a) Statement of Objects and Reasons
16. IBC (Amendment) Ordinance, 2020
17. IBC (Second Amendment) Act, 2020 (w.e.f 5-6-2020).
(a) Statement of Objects and Reasons
(b) Suspension of CIRP extended by 3 months
(c) Freedom of Legislature to experiment with economic laws
THE INSOLVENCY AND BANKRUPTCY CODE, 2016
PART I – PRELIMINARY [SECTIONS 1 TO 3]
PART II – INSOLVENCY RESOLUTION AND LIQUIDATION FOR CORPORATE PERSONS
CHAPTER I – PRELIMINARY [SECTIONS 4 TO 5)
CHAPTER II – CORPORATE INSOLVENCY RESOLUTION PROCESS [SECTIONS 6 TO 32A]
CHAPTER III-LIQUIDATION PROCESS [SECTIONS 33 TO 54]
CHAPTER IV – FAST TRACK CORPORATE INSOLVENCY RESOLUTION PROCESS [SECTIONS 55 TO 58]
CHAPTER V – VOLUNTARY LIQUIDATION OF CORPORATE PERSONS [SECTION 59]
CHAPTER VI – ADJUDICATING AUTHORITY FOR CORPORATE PERSONS [SECTIONS 60 TO 67].
CHAPTER VII-OFFENCES AND PENALTIES [SECTIONS 68 TO 77]
VOLUME 2
Part III INSOLVENCY RESOLUTION AND BANKRUPTCY FOR INDIVIDUALS AND PARTNERSHIP FIRMS
CHAPTER I -PRELIMINARY [SECTIONS 78 TO 79
CHAPTER II-FRESH START PROCESS [SECTIONS 80 TO 93]
CHAPTER III- INSOLVENCY RESOLUTION PROCESS [SECTIONS 94 TO 120]
CHAPTER IV -BANKRUPTCY ORDER FOR INDIVIDUALS AND PARTNERSHIP FIRMS [SECTIONS 121 TO 148]
CHAPTER V-ADMINISTRATION AND DISTRIBUTION OF THE ESTATE OF THE BANKRUPT [SECTIONS 149 TO 178]
CHAPTER VI–ADJUDICATING AUTHORITY FOR INDIVIDUALS AND PARTNERSHIP FIRMS [SECTIONS 179 TO 183]
CHAPTER VII-OFFENCES AND PENALTIES SECTIONS 184 TO 187]
PART IV – REGULATION OF INSOLVENCY PROFESSIONALS, AGENCIES AND INFORMATION UTILITIES
CHAPTER I- THE INSOLVENCY AND BANKRUPTCY BOARD OF INDIA [SECTIONS 188 TO 195]
CHAPTER II- POWERS AND FUNCTIONS OF THE BOARD [SECTIONS 196 TO 198]
CHAPTER III -INSOLVENCY PROFESSIONAL AGENCIES [SECTIONS 199 TO 205]
CHAPTER IV -INSOLVENCY PROFESSIONALS [SECTIONS 206 TO 208]
CHAPTER V -INFORMATION UTILITIES [SECTIONS 209 TO 216]
CHAPTER VI- INSPECTION AND INVESTIGATION [SECTIONS 217 TO 220]
CHAPTER VII-FINANCE, ACCOUNTS AND AUDIT [SECTIONS 221 TO 223]
PART V MISCELLANEOUS (SECTIONS 224 10 255)
SCHEDULES [FIRST SCHEDULE TO TWELFTH SCHEDULES)
APPENDICES – REGULATIONS, RULES, NOTIFICATIONS, CIRCULRS, ALLIED ACTS, COMMITTEE REPORTS, UNCITRAL LAW, SARFAESI ACT & RULES AND DRT ACT & RULES, ETC.
PART I – REGULATIONS (APPENDIX 1 T0 APPENDIX 18)
PART II – RULES [APPENDIX 19 TO APPENDIX 26).
PART III – REMOVAL OF DIFFICULTIES ORDER (APPENDIX 27)
PART IV – NOTIFICATIONS [APPENDIX 28}.
PART V – CIRCULARS AND CLARIFICATIONS [APPENDIX 29 TO APPENDIX 30]
PART VI – RBI (PRUDENTIAL FRAMEWORK FOR RESOLUTION OF STRESSED ASSETS) DIRECTIONS, 2019 [APPENDIX 31]
PART VII – GUIDELINES ISSUED BY IBBI. [APPENDIX 32 TO APPENDIX 50A]
PART VIII – PRACTICE AND PROCEDURES INSOLVENCY AND BANKRUPICY LAW [APPENDIX 51].
PART IX – TEXT OF SECTIONS OF ALLIED STATUTES MENTIONED IN THE CODE/REGULATIONS APPENDIX 52]
PART X – COMMITTEE REPORTS [APPENDIX 53 TO APPENDIX 58).
PART XI – UNCITRAL GUIDE TO INSOLVENCY LAW APPENDIX 59 TO APPENDIX 60]
PART XII – TEXT OF SECTIONS OF ALLIED STATUTES MENTIONED IN THE CODE/REGULATIONS [APPENDIX 61].
PART XIII – INSOLVENCY AND BANKRUPTCY CODE 2016 AMENDMENT ACTS AND AMENDMENT ORDINANCES [APPENDIX 62]
PART XIV – IBBI ORGANIZATION CHART [APPENDIX 63]
PART XV – TEXT OF OTHER INSOLVENCY ACTS [APPENDIX 64 TO APPENDIX 65]
PART XVI – SECURITISATION AND RECONSTRUCTION OF FINANCIAL ASSETS AND ENFORCEMENT OF SECURITY INTEREST ACT AND RULES [APPENDIX 66 TO APPENDIX 68]
PART XVII – RECOVERY OF DEBTS AND BANKRUPTCY ACT, 1993 AND RULES [APPENDIX 69 TO APPENDIX 71]
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