Insolvency & Bankruptcy Code Ready Reckoner book by V.S. Datey

This book offers a comprehensive and detailed commentary on Insolvency and Bankruptcy laws in India, organised by topic for ease of reference. It encompasses an in-depth analysis of the following key legislations:

• Insolvency and Bankruptcy Code, 2016 (IBC)
• Recovery of Debts and Bankruptcy Act, 1993
• Securitisation and Reconstruction of Financial Assets and Enforcement of Securities Interest Act, 2002 (SARFESI Act)

This book routinely addresses the practical challenges that professionals encounter, offering precise and complete information on all Insolvency and Bankruptcy law provisions.

It is crafted to be an indispensable resource for a wide range of professionals and scholars, including:

• Legal Practitioners & Law Firms handling corporate insolvency and bankruptcy matters
• Corporate Professionals (including Company Secretaries, Chartered Accountants, and Cost Accountants) who advise on insolvency, liquidation, and restructuring
• Financial Institutions & Banks focusing on resolution plans, credit management, and recovery
• Insolvency Professionals (IPs) & IP Entities (IPEs) seeking a comprehensive guide for day-to-day reference
• Academicians & Students specialising in corporate law, finance, or business restructuring

The Present Publication is the 2025 Edition, updated till 1^st February 2025. It is authored by V.S. Datey with the following noteworthy features:

• [Comprehensive Analysis] Presents an in-depth explanation of the entire IBC framework, including corporate insolvency, bankruptcy for individuals, partnership firms, and more
• [Practical Ready Referencer] Detailed insights on critical procedures like corporate insolvency resolution (CIRP), liquidation, and voluntary liquidation
• [Focus on PPIRP] Covers the Pre-packaged Insolvency Resolution Process (PPIRP) for MSMEs with step-by-step clarity
• [Illustrative Examples] Practical cases, scenarios, and interpretative guidance help professionals navigate complex insolvency processes
• [Quick Referencer] Features tables, section indexes, acronyms, and well-structured headings for swift navigation

The coverage of the book is as follows:

• Initiation & Conduct of CIRP
  • From the filing of applications by financial/operational creditors to the appointment of resolution professionals and the formulation of resolution plans
• Committee of Creditors (CoC)
  • Constitution, powers, and decision-making processes.
• Moratorium & Public Announcements
  • Detailed discussion on the legal effect of moratorium and obligations of stakeholders
• Resolution Plans
  • Eligibility conditions (Section 29A), drafting resolution plans, approval by CoC, and subsequent approval by the Adjudicating Authority (NCLT)
• Fast Track Resolution
  • Special provisions and procedural framework for faster disposal in specific cases
• Pre-Packaged Insolvency Resolution Process (PPIRP)
  • Eligibility for MSMEs
  • Steps before making an application
  • Conduct of the process and CoC involvement
  • Submission and approval of resolution plans
  • Termination and transition to CIRP if needed
• Liquidation & Voluntary Liquidation
  • Liquidation estate, powers/duties of the liquidator, priority of claims, and distribution of assets
• Bankruptcy for Individuals & Firms
  • Application, moratorium, repayment plans, and discharge orders
• Cross-Border Insolvency
  • Provisions and enabling mechanisms for overseas asset realisations
• Offences & Penalties
  • In-depth coverage of offences under the Code and the relevant punishments
• Adjudication & Appeals
  • Roles of NCLT, NCLAT, DRT, DRAT, and the Supreme Court; timelines and procedural aspects
• Registered Valuers & Valuation
  • Qualifications, role, and regulatory requirements for registered valuers

The structure of the book is as follows:

• Chapter-wise Commentary – The book is divided into 22 chapters, beginning with the declining stage of an organisation and culminating in procedural aspects before various tribunals
• Logical Flow – Each chapter unfolds systematically—starting from the background and fundamental definitions to step-by-step procedures and concluding with case laws and practical insights
• Tables & Illustrations – Helpful charts, tables, and bullet points break down complex sections of law, aiding quick comprehension
• Acronyms & Section Index – A dedicated section index and acronym list ensure easy cross-referencing and effortless navigation
• Subject Index – A quick locator for specific topics, judgments, or provisions spread throughout the text