IBC Code Basics & Insolvency Proceedings

📘 Module 1: Introduction to the IBC, 2016 (45 Minutes)

📖 Section 1.1: Background and Need for IBC

• Pre-IBC regime: Fragmented laws and inefficiencies
• Objectives: Time-bound resolution, maximizing asset value, promoting entrepreneurship

📖 Section 1.2: Scope and Applicability

• Coverage: Companies, LLPs, Individuals, Partnerships
• Governing bodies: Ministry of Corporate Affairs, IBBI

📖 Section 1.3: Key Pillars of the IBC Ecosystem

• Adjudicating Authorities: NCLT & DRT
• Insolvency Professionals (IPs)
• Insolvency Professional Agencies (IPAs)
• Information Utilities (IUs)

📘 Module 2: Corporate Insolvency Resolution Process (CIRP) (1 Hour 15 Minutes)

📖 Section 2.1: Initiation of CIRP

• Initiated by: Financial/Operational Creditors, Corporate Applicant
• Default threshold: ₹1 crore and revised limits

📖 Section 2.2: Moratorium and Interim Resolution

• Section 14: Stay on suits and asset disposal
• Role of Interim Resolution Professional (IRP)

📖 Section 2.3: Formation and Role of CoC

• Constitution and role of Committee of Creditors
• Voting threshold: 66% for key decisions

📖 Section 2.4: Resolution Plan

• Submission, evaluation, and approval process
• Eligibility of Resolution Applicant

📘 Module 3: Liquidation Process & Personal Insolvency (45 Minutes)

📖 Section 3.1: When CIRP Fails

• Grounds for liquidation
• Liquidator’s role and asset distribution waterfall

📖 Section 3.2: Voluntary Liquidation

• Procedure for solvent companies

📖 Section 3.3: Personal Insolvency & Partnerships

• Adjudication by DRT
• Fresh start process and repayment plans

📘 Module 4: Practical Insights & Legal Case Studies (45 Minutes)

📖 Section 4.1: Key Judicial Pronouncements

• Essar Steel, Jet Airways, Videocon, DHFL cases
• Supreme Court rulings on CoC supremacy, homebuyer rights

📖 Section 4.2: Amendments & Developments

• Pre-pack for MSMEs
• Cross-border insolvency framework
• Fast-track process for startups/SMEs

📖 Section 4.3: Challenges in Implementation

• Delays in resolution timelines
• NCLT capacity issues
• Valuation challenges & misuse of voluntary liquidation

⚖️ Learn to apply the IBC effectively with clarity on procedures, real-world judicial interpretation, and policy evolution to support economic recovery and legal reform.