Whalesbook
Yaar, sabse pehle toh ye jo insolvency petitions admit karne ka process tha na, usmein bade change aaye hain. Pehle kya hota tha, Supreme Court ke ek ruling ke baad, NCLT agar chahe toh mitigating circumstances dekh kar petition reject kar sakta tha, jisse corporate debtors late karte rehte the. Lekin ab ye naya Act 'may' ki jagah 'shall' use kar raha hai. Iska matlab ye hai ki petition reject karne ke grounds sirf application ki completeness, proven default aur professional integrity tak hi seemit hain. Ab admission stage ek procedural step ban gaya hai, koi long fight nahi.
Aur ek mast cheez launch hui hai: Creditor-Initiated Insolvency Resolution Process (CIIRP). Ye ek naya out-of-court process hai jismein debtor ke paas hi possession rehti hai. Agar financial creditors ke paas 51% debt hai, toh woh 30-day notice de kar CIIRP start kar sakte hain. Agar debtor object nahi karta, toh ek resolution professional aa jayega aur current management supervision mein kaam karegi. Goal hai ki ye 150 days mein complete ho jaye, jo standard CIRP se kaafi fast ho sakta hai.
Phir baat karte hain government dues ki priority ki. Pehle Supreme Court ki 'Rainbow Papers' ruling ne government tax dues ko secured creditor ki tarah treat kar diya tha, jisse lenders ke security interests ko risk tha. Ab Act clear kar deta hai ki security interest parties ke agreement se aani chahiye, na ki sirf law se. Statutory charge wale government dues ko ab 'secured creditor' ki definition se bahar kar diya gaya hai. Isse secured lenders ko kaafi relief aur confidence milega.
Aur haan, 'clean slate' principle bhi ab officially law mein aa gaya hai. Pehle ye court interpretations par based tha, par ab issay legal backing mil gayi hai. Plus, companies ke essential grants, licenses, aur permits ko bhi protect kiya gaya hai. Matlab, resolved past liabilities ki wajah se inko terminate nahi kar payenge. Ye un businesses ke liye bohot important hai jo regulated industries mein hain.