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LCI has brought to you one of its finest courses - IBC - Theory, and Practice and you might want to make the best of this one. A booming field of law, an amazing clientele to deal with, mostly legislated upon in the most straight forward way and an amazing opportunity for every Lawyer, Chartered Accountant, Banking / Finance Professional (Finance Professionals are also allowed to practice in the field), Resolution Professional, etc to find a spot while space is not too crowded, like the other fields of law.
Since the early 1990s emphasis on dealing with tough borrowers has been increasing. Before that, either there were no defaulters or more possibly they could not be surfaced. An international committee, BASEL, guides the member countries to regulate Non Performing Assets. RBI in India, from time to time, revises the regulations to catch up with the guidelines of BASEL.
In 2002 SARFAESI Act came into force to speed up the process of resolution or recovery of loans without a legal court’s intervention, which it has so far very successfully done.
In 2016 Insolvency and Bankruptcy Code has come. This Code helps lenders in many ways including dissociating Corporate borrowers from the management of their companies. Its target is to improve asset quality in Banks.
The Insolvency and Bankruptcy Code, 2016 was enacted with a view to consolidate and amend the laws relating to reorganization and insolvency resolution of Corporate Bodies, Partnership Firms, and Individuals in a time-bound manner. The main intention behind the Code is to maximize the value of the assets of such persons, promote entrepreneurship, ensure the availability of credit and balance the interest of all the stakeholders including the alteration in the order of priority of the payment of government dues.
This course elucidates the Insolvency and Bankruptcy Code, 2013 (Code) and highlights the practicalities of its implementation. The Course is not a mere theoretical study but includes hands-on practical lessons and case studies. The Course also gives exposure to the procedural aspects of practice before the Hon’ble National Company Law Tribunal (NCLT) or the Hon’ble National Company Appellate Law Tribunal (NCLAT). The Course is designed to provide information and help learn the essential skills and knowledge that are required to understand the insolvency law such that you/learner can take a decision as to the future potential of this subject in your professional career. This Course also gives a complete insight into the insolvency laws prevailing in India and the revival mechanism provided for by the Code which helps the Corporates to survive the current economy. The Course has been designed by practicing solicitors and advocates before the NCLT, NCLAT, and High Court.
1. Over View of Insolvency Laws in India
2. Corporate Insolvency Resolution Process (CIRP)
3. Effects on admission of the insolvency application
4. Important Concepts explained in detail under the Code
5. Insolvency against the Personal Guarantors
6. Concept of Avoidance of Transactions for Corporate Debtor and for Personal Guarantors
7. Liquidation under the Code
8. Amendments brought about in the CODE and its SWAT analysis.
9. NCLT Procedures and practicalities of filing documents as per the formats under the Code.
10. Career options under the Code
11. Information Utility as mentioned in the Code.
Primarily to get a chance to know the need of the IB Code. That is where you will understand/realize if the law is up to your taste or not.
You will be able to distinguish between Corporate Insolvency and Individual Bankruptcy when we hit the basics of the law.
Understand the functioning of the Regulatory Bodies under the Code including Adjudicating Authorities which is one of the most important parts of the practice of the Insolvency and Bankruptcy Code. Ms. Karkar, in her past webinars and workshops (Call 011-411-70713 to get the recordings of the IBC webinars and enroll in the workshop) with the LAWyersClubIndia, has left our participants mesmerized by how easily she could take everyone through the practical aspects of the IBC practice. In the course, we are going to go one step ahead and dive into the practice in depth. Ms. Kharkar will also reveal some hidden or relatively unknown DOs and DON’Ts of the practice as she had earlier shared in the workshop on Demand Notices and Insolvency Petitions. (For eg - Ms. Kharkar wonderfully explained the importance of drafting the index of the file well, which plays a crucial role in the practice).
To comprehend the role of various intermediaries under the Code - where we all will go through the different legal provisions of the IB Code which are important for us to understand how to go about the IBC practice.
To get to know the detailed Role of Insolvency Professionals and Information Utilities - which again will demand from us to move through the provisions of the Code to understand how a Lawyer has to play through the practice using the machinery set up by the Insolvency and Bankruptcy Code. Here we will also learn to draft various important documents that are vital to the practice of IBC. We will also understand the best use of different forms that the Code provides us with. We will also help you with the relevant templates that you can practice when the same is taught in the while of the course.
To comprehend the Insolvency Resolution Process which will sum up the course for us and the participants will be ready to hit the practice with the confidence of being a span ahead of the others.
The course would enable the learners to take a decision as to the future potential of this subject in their professional career as it is only after you know something inside out, that you understand what it can do for you and what you can do with it and we definitely know for sure that you will get comfortable with the subject and find yourself intrigued.
Adv. Amrita Kharkar Amrita is the co-founder partner of the Law Firm KV Legal.
She is a practicing solicitor and she specializes in the field of Real Estate,
Litigation, Personal Laws, and Insolvency Laws. She graduated in Law from Pune
University in 2009 and thereafter she qualified as a Solicitor and became a
member of the Bombay Incorporated Law Society. She started her legal career at
a leading Mumbai-based law firm and was associated with that firm for 7 years
before she co-founded her own law firm. Her dedication and vast experience of
more than 10 years in the field of law and her passion to work in the legal
field have helped her in accomplishing her dream of establishing her own law
firm. Whilst she was studying law she represented her college at numerous
State level and National level moot competitions and won many of those
competitions. To name a few in 2005-2006 she stood first in Balaji State Level
Moot Competition, won Second Prize in National Law Tryst 2007, and ranked
Fourth in Justa Causa National Moot Court Competition 2006.
She also participated in several debate and elocution competitions during her
law college days and has won many awards including First Prize at the National
Level Big Fight Competition organized by JCCL at Mumbai; Second Prize in the
State Level Competition organized by The Bar Council of Maharashtra & Goa,
2005; First Prize in D.E.S Law College debate competition, 2008; Second Prize
in D.E.S Law College debate and elocution competition, 2009; Third Prize in
Nani Palkivala Memorial Inter-Collegiate Elocution Contest, 2009. During her
career as a legal practitioner, she has represented various individual and
corporate clients before the Bombay High Court, City Civil Court, Small Causes
Court, Debt Recovery Tribunal, National Company Law Tribunal, and Magistrate
Court. She has also advised various corporate clients on the Prevention of
Sexual Harassment at Workplace including forming the committee, imparting
training to the committee members, and conducting seminars. Throughout her
career as a legal practitioner, she has also advised clients on the
transactions relating to purchasing and sale of land/flats; gifting of
property; mortgaging/leasing property; leave and license; redevelopment of
property; wills; etc. During the COVID lockdown period, she spoke on the
Insolvency and Bankruptcy Laws at various seminars organized by different law
colleges.
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