INSOLVENCY, LIQUIDATION AND WINDING UP

Paper Code: 
BCS 516
Credits: 
3
Contact Hours: 
45.00
Max. Marks: 
100.00
Objective: 

Course Outcomes (COs):

Course Outcomes

Learning and teaching strategies

Assessment

Strategies

On completion of this course, the students will be able to;

CO 176:Explain circumstances and the procedure for winding up of the company.

CO 177:To assess the procedure of liquidation and winding up of company in pre and post of the code.

CO 178:Analyze the impact of insolvency laws on company liquidation and winding up.

CO 179:Appraise the distribution of company’s assets among creditors and contributories. To access the various types of liquidation and winding up under companies act 2013.

CO 180

     
     
     

:To access the various types of liquidation and winding up under companies act 2013.

 

Class lectures

Seminars

Tutorials

Group discussions and

Workshops

Question preparation

Class test, Semester end examinations, Quiz,  Assignments, Class interaction, Presentation, Case study analysis, Open ended questions, think-pair-share, Socratic seminar

 

9.00
Unit I: 
Insolvency Resolution

Insolvency: Historical Background; Pillars of IBC, 2016; Key Definitions and Concepts; Insolvency Initiation/Resolution.

Petition for Corporate Insolvency Resolution Process:Legal Provisions; Procedure, Documentation; Appearance, Approval; Case Laws.

Role, Functions and Duties of IP/ IRP/ RP: Public announcement, Management of affairs and operations of company as a going concern, Raising of Interim Finance, Preparation of Information Memorandum.

 

9.00
Unit II: 
Resolution Strategies and Plan

Resolution Strategies: Restructuring of Equity & Debt; Compromise & Arrangement; Acquisition, Takeover & Change of Management; Sale of Assets; Valuation.

Convening and Conduct of Meetings of Committee of Creditors: Constitution of Committee of Creditors; Procedural aspects for meeting of creditors.

Preparation & Approval of Resolution Plan: Contents of resolution plan; Submission of resolution plan; Approval of resolution plan.

 

9.00
Unit III: 
Insolvency related orders

Individual/ Firm Insolvency: Application for insolvency resolution process; Report of resolution professional; Repayment plan; Discharge Order.

Fresh Start Process: Person eligible to apply for fresh start; Application for fresh start order; Procedure after receipt of application; Discharge order.

Debt Recovery &SARFAESI :Non-Performing Assets; Asset Reconstruction Company; Security Interest (Enforcement) Rules, 2002; Evaluation of various options available to bank viz. SARFASEI, DRT, Insolvency Proceedings; Application to the Tribunal/ Appellate Tribunal.

 

9.00
Unit IV: 
Cross Border Insolvency

Cross Border Insolvency :International Perspective and Global Developments; UNCITRAL Legislative Guide on Insolvency Laws; US Bankruptcy Code, Chapter 11 reorganization; Enabling provisions for cross border transactions under IBC.

Liquidation on or after failing of RP: Initiation of Liquidation; Distribution of assets; Dissolution of corporate debtor.

 

9.00
Unit V: 
Liquidation and Winding Up

Cross Border Insolvency :International Perspective and Global Developments; UNCITRAL Legislative Guide on Insolvency Laws; US Bankruptcy Code, Chapter 11 reorganization; Enabling provisions for cross border transactions under IBC.

Liquidation on or after failing of RP: Initiation of Liquidation; Distribution of assets; Dissolution of corporate debtor.

 

Essential Readings: 

ESSENTIAL READINGS:

  • Study Material Published by ICSI

 

SUGGESTED READINGS:

  • Scanner-Arun Kumar(ShuchitaPrakashans(P) Ltd)

 

Academic Year: