About Insolvency and Bankruptcy Code:
Insolvency and Bankruptcy Code, 2016 is the biggest insolvency reform that proposes a timebound process for resolving insolvency. The Code merges the earlier framework by nullifying the Presidency Towns Insolvency Act, 1909, and the Provincial Insolvency Act, 1920. In addition, it amends 11 laws including the Companies Act, 2013, DRT Act, 1993, and SARFAESI Act, 2002.
The Code specifies a framework for time-bound insolvency resolution, with two similar processes for:
- Individuals and partnership firms.
- Companies and limited liability partnerships (liability of partners restricted to their investment), and
The Code proposes two authorities to:
- Evaluate applications for initiating insolvency proceedings
- Approve the appointment of insolvency professionals
- Approve resolution plans
These authorities are National Company Law Tribunal (NCLT): judge cases for companies and limited liability partnerships. Appeals against its orders will be heard by the National Company Law Appellate Tribunal.
Debt Recovery Tribunal (DRT):
Judge cases for individuals and partnership firms. Appeals against its orders will be heard by the Debt Recovery Appellate Tribunal. This course covers the essentials of insolvency and bankruptcy code, the framework, processes and definitions in an extremely simple and digestible language along with the latest amendments with an intention to educate every insolvency and bankruptcy practitioner to learn the nitty-gritty involved in the Code, how corporate insolvency resolution process works and understand the concept of debt in depth.
This course is extremely beneficial for:
- IBC practitioners
- Charter accountants
- Law students
- Insolvency professionals
This course is considerate for all professionals from the following fields:
- Real Estate
This course delivers the practical importance of the code that trains lawyers and other professionals to make their practices effective. This course comprises of video lectures along with PDF notes.
Jobs & Career Opportunities:
- A practising chartered accountant has the following role under Insolvency and Bankruptcy code
- Insolvency Professional
- Registered valuer
- Appear before NCLT on behalf of the applicant (creditor) or defendant (corporate debtor)
- Taking up forensic audit for corporate debtor
- Support in maintaining accounting, finance and taxation records of corporate debtor
- Bringing viable resolution plan as a resolution applicant
- Support in the process of making a resolution plan
- Can conduct classes/seminars on the code
- Publish referencer on the code
- Bankruptcy Lawyer
- Government Representative
- Legal Advisor
- Finance Expert
- Legal Representative
Other important information about this Online Course:
- Maximum Duration to complete the Course: 3-Months
- Course Fees: RS. 10,000/- (Several Payment Options Available: Credit & Debit Cards, Cheque, Demand Draft, Cash, Wire Transfer – NEFT, PAYTM)
- Online Evaluation Method: Based on “Multiple Choice Question (MCQs)” and an “Assignment Submission” of 500 words.
- The score of the online examination will be taken as final result and Grade will be assigned as per the following scheme: Grade A – 80-100, Grade B – 65-79, Grade C – 50-64, Reattempt – Below 50
- Next Batch: Each IALM course starts immediately after payment. Students can register online for the course any time. Upon payment of fees and registration, the present Course will start immediately.