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Pre-Deposit for a DRAT Appeal Explained
For a borrower who has lost before the Debts Recovery Tribunal (DRT), filing an appeal is not just about preparing grounds and meeting the limitation period. A DRT appeal requires
DRT Original Application (OA): Meaning, Process and How to Defend It
When a bank seeks to recover a debt, it does not file a plaint before the ordinary civil court. Instead, it files an Original Application (OA) before the Debts Recovery Tribunal (D
DRT vs civil court for debt recovery: which forum applies
Not every unpaid debt is filed in the same forum. Understanding DRT vs Civil Court is essential when deciding where to initiate debt recovery proceedings in India. The Debts Recove
How to stop a bank auction under SARFAESI
By the time a borrower sees an auction notice for a mortgaged property, the enforcement process is already well advanced. The account has been classified as a non-performing asset,
How to File a Section 17 Application Under the SARFAESI Act Before the DRT
The Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 (SARFAESI Act) changes the traditional approach to debt recovery. A secured
Timeline of the Corporate Insolvency Resolution Process (CIRP)
The CIRP timeline under the Insolvency and Bankruptcy Code, 2016 (IBC) is intended to keep insolvency proceedings moving without unnecessary delay. When a company remains in distre
How to appeal an NCLT order to the NCLAT
An order of the National Company Law Tribunal can change control of a company overnight. An admission order under the Insolvency and Bankruptcy Code, 2016 triggers a moratorium and
Personal Guarantor Insolvency under the IBC: What to Expect
Promoters and directors often provide personal guarantees for company loans to secure financing from creditors. Earlier, if the company defaulted, creditors generally had to pursue
Oppression and Mismanagement Remedy under the Companies Act
Company law generally leaves the running of a company to the majority. Directors are appointed by majority vote, resolutions are carried by majority, and a shareholder who disagree
Minimum Default Amount to Trigger IBC Proceedings
The Insolvency and Bankruptcy Code, 2016 (IBC) does not apply to every unpaid debt. A minimum default amount under IBC determines whether a creditor can initiate insolvency proceed
