Page 2 - IBC Orders us 7-CA Mukesh Mohan

ABOUT THE COMPILATION

The world ranking of India in Ease of Doing Business has been improved very significantly this
year. India jumped up 30 notches into the top 100 rankings on the World Bank’s ‘Ease of doing
business’ index. One of the major indicators is Resolving Insolvency. India got the 103 rank in
Resolving Insolvency as compare 136 last year, i.e. after enforcing Insolvency and Bankruptcy
Code, 2016.

The Insolvency and Bankruptcy Code, 2016 provides a legislative framework for the Resolution
of the Stressed Assets, Insolvency and Liquidation proceedings of Corporate, Firm and
Individuals.

Insolvency and Bankruptcy Code 2016 provides an exit route to address genuine business
failures and provides the space for the genuine business players. This code provides a time bound
resolution of the stressed assets within 180 days which can be extended further by 90 days.
Financial Creditor, Operational Creditor and Corporate Debtor itself can opt for this code.

The National Company Law Tribunal (NCLT) and National Company Law Appellate Tribunal
(NCLAT) are adjudicating Insolvency and Liquidation cases and bringing numbers of
judgments, resulting in admission or rejection of Insolvency applications.

Since this code is new, therefore I made a sincere attempt to compile the orders of Hon'ble
National Company Law Tribunal (NCLT) in the one file. In this first issue of this compilation I
have compiled the orders passed by Hon’ble NCLT from 01.01.2017 to 30.09.2017.

I believe that this compilation will act as a handy reference for Regulators, Resolution
Professionals, Financial Creditors, Operational Creditors, Corporate Debtors, Academics,
Researchers and other stakeholders in understanding the adjudication matters and interpretation
of Insolvency and Bankruptcy matters. The USP of this compilation is the ease of searching the
case laws by using the KEYWORD as per the need of the case while preparing the Application,
Appeal, and Referring Judgments / case law at the time of arguing the case etc.

This compilation will provide learning to the practitioners on various aspects of the code
including the grounds of admission or rejection of cases with interpretation of various sections
and clauses of the Insolvency & Bankruptcy Code, 2016.

In the forthcoming issue we will incorporate the orders passed by Hon’ble National Company
Law Tribunal (NCLAT), Hon’ble High Courts and Hon’ble Supreme Court related to Insolvency
and Bankruptcy Code, 2016 in one document.

We are also compiling various useful formats like Applications for filing before the Hon’ble
NCLT, Appeal to be filed before Hon’ble NCLAT, various reports to be filed by IRP/RP at
Adjudicating Authority, IBBI, IPA etc., Various Agreements to be executed by IRP/ RP like E-
voting Agreements, Various letters to be sent by IRP / RP while discharging their duties etc. at
our proposed website www.IBCorders.com very soon.