Course Overview
Course Description
This intensive 5-day course provides a comprehensive understanding of filing petitions under the Insolvency and Bankruptcy Code (IBC) to initiate Corporate Insolvency Resolution Process (CIRP). Participants will learn the intricacies of petition filing for financial creditors, operational creditors, and corporate applicants, along with essential documentation and procedural requirements.
Learning Objectives
- Master the process of filing IBC petitions for different stakeholders
- Understand the legal framework and jurisdiction for CIRP initiation
- Learn to prepare and submit required documentation accurately
- Gain insights into common pitfalls and best practices in petition filing
- Develop skills to navigate the NCLT proceedings effectively
Course Modules
Day 1: Introduction to IBC and CIRP
- Overview of the Insolvency and Bankruptcy Code
- Understanding CIRP and its significance
- Key stakeholders in the CIRP process
- Jurisdiction and locus standi for filing petitions
Day 2: Filing Petitions as Financial Creditors
- Eligibility criteria for financial creditors
- Documentation requirements for Section 7 applications
- Drafting and filing Form 1
- Procedural aspects and timelines
Day 3: Filing Petitions as Operational Creditors
- Operational creditors' rights and obligations
- Demand notice and Form 3 requirements
- Drafting and filing Form 5
- Handling disputes and rejections
Day 4: Corporate Applicant Petitions and Special Cases
- Filing as a corporate applicant under Section 10
- Special considerations for different types of companies
- Group company insolvencies
- Cross-border insolvency aspects
Day 5: NCLT Proceedings and Best Practices
- Admission and rejection of petitions by NCLT
- Appointment of Interim Resolution Professional
- Moratorium and public announcements
- Best practices and common mistakes to avoid
Practical Wins for Participants
- Ability to confidently file IBC petitions for various stakeholders
- Enhanced skills in preparing accurate and comprehensive documentation
- Improved understanding of NCLT procedures and requirements
- Practical knowledge to advise clients on CIRP initiation strategies
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