SEMINAR ON INSOLVENCY BANK RUPTCY CODE 2016

BRIEF ON TOPIC

Insolvency & Bankruptcy Code [IBM has come into effect from August, 2016 711e Code was framed with the intention to expedite & simplify the process of Insolvency and Bankruptcy proceedings in India, ensuring fair negotiations between Debtor and Creditor by removing the asymmetry of debt and default information. The Code covers in its ambit, Companies, LLP\'s , Partnership Firms and Individuals who had defaulted the PaYment of Ili. due, Corporate Insolvency Resolution Process[CIRP] is a time bounded process through which the recovery of corporate debts quickly has become a reality for all corporate debts of Rs.1 Lakh and above. The code provides for appointment of an Insolvency Professional(IP) who shall replace the Board of the Company or the Firm or LLP, if there is a legal claim of debt outstanding. This is demanding the Companies/LLPs/Finns to immediately settle the claims as otherwise the IP would replace their Board and try to frame in a Resolution Process within a period of 180 days, until which the Board has to report to the IP. The failure of the resolution process will eventually lead to the liquidation of the company.

The Law is still evolving and the developing jurisprudence by NCLT, NCLAT and Supreme Cott, clearly has now paved the path for confirming the insolvency process, where there was a genuine debt and all hearsay disputes were set aside.

ABOUT THE TRAINER

Adv Asish Mohan FCS,LLB

Adv Asish Mohan FCS,LLBHe is a Bachelor in Commerce from Kerala University, Bachelor of Laws and a Fellow member of the Institute of Company Secretaries of India. He is a First Rank Holder in LL.B at the prestigious School of Legal Studies (SLS) under Cochin Ai University of Science and Technology (CUSAT).

Asish Mohan is a qualified Insolvency Professional under the Insolvency and Bankruptcy Code 2016 and is an IP Professional registered with the Insolvency and Bankruptcy Board of India. He is a member of the IC. IPA and he moved into Practice from April 2009. He presently practices as an advocate and is the Partner of M/s Artis Law House, Corporate Lawyers and Solicitors and deals with Corporate and Tax laws.

He has 15 years of experience in Corporate Laws, SEBI Laws, FEMA, Taxation, Delisting from Stock exchanges, Mergers and Demerger, corporate restructuring incorporation and compliance management of Foreign Subsidiaries, FIPB Approvals. Was also instrumental in handling and controlling the Due Diligence process for various Companies for venture capital, takeovers etc.He has been a regular speaker at the sessions conducted by Kerala Institute of Entrepreneurship Development (K1ED). He has taken sessions for MBA students at various reputed institutes .

CS Bijoy P Pulipra, FCS

CS Bijoy P Pulipra, FCSBijoy P Pulipra FCS, is a Company Secretary and Insolvency Resolution Professional by Qualification and Profession and have more than a decade of experience in corporate Laws. He is I presently heading the Secretarial Firm and also acting as 1 Director of Artis advisory ill Mergers and Acquisitions, Corporate 1- restructuring, Private Equity Investmen. and Angel Funding and Cross Border Compliance &Business Setting up.

He is having expertise mentoring the start ups and entry level businesse, He is an expert in Insolvency and Bankruptcy law, Foreign Exchange Laws, Multi Dimensional Agreements, Conciliation, Banking laws, Customs laws and Competition laws. He is an expert in taking Sessions on various Corproate Programmes and had taken several programmes on various programmes.

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