Insolvency, Liquidation and Winding Up

Paper Code: 
BCS 515
Credits: 
03
Contact Hours: 
45.00
Max. Marks: 
100.00
Objective: 

Course Objective:

This course will enable the students to -

1. To acquire knowledge of the legal, procedural and practical aspects of Insolvencyand its resolution.

 

Course Outcomes (COs):

Course

Learning outcomes

(at course level)

Learning and teaching strategies

Assessment

Strategies

Paper Code

Paper Code

Paper Title

BCS 612

Insolvency, Liquidation and Winding Up

The students will be able to –

 

CO 152:Explain circumstances and the procedure for winding up of the company.

CO 153: To understand the procedure of liquidation and winding up of company in pre and post of the code.

CO 154:  Analyse the impact of insolvency laws on company liquidation and winding up.

CO 155: Understand the distribution of company’s assets among creditors and contributories.

Approach in teaching:
Interactive Lectures, Discussion, Tutorials, Reading assignments, Interactive White Board, Incorporating technology in teaching
Learning activities for the students:
Self learning assignments, Effective questions

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:                                                                                          

  • Historical Background; Pillars of IBC, 2016 [IBBI, IPA, IP, AA, Information Utility]; Key Definitions and Concepts; Insolvency Initiation/Resolution under sections 7, 8 and 10.
  • 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:                                                                                     

  • 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: 
-

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 :                                                                            

•      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: 
-

Voluntary Liquidation

  • Procedure for Voluntary Liquidation; Powers and duties of the Liquidator; Completion of Liquidation.
  • Winding-up by Tribunal under the Companies Act, 2013: Procedure of Winding-up by Tribunal; Powers and duties of the Company Liquidator; Fraudulent pBOOK RECOMMENDED.
  • Case Laws, Case Studies and Practical aspects.                                           

 

References: 
  • Study Material Published by ICSI
  • Scanner: Arun Kumar (SuchitaPrakashans )

 

Academic Year: 
2020-2021
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