K. Virupaksha & Anr. V. The State of Karnataka & Anr. Gives the briefing about the an act to regulate securitization and reconstruction of financial assets and enforcement of security interest.
DRT & Banking
Rahmatullah vs The Authorized Officer Cum Chief : The candidate has anyway raised a more extensive issue by taking a request that the Debts Recovery Tribunal (‘DRT’) while engaging an application under Section 17(1) of the Act of 2002 has no capacity to approve the deferral. (drt)
The Insolvency and bankruptcy code is a one stop solution for resolving insolvencies which previously was a long process that did not offer an economically viable arrangement. The code aims to protect the interests of small investors and make the process of doing business less cumbersome.
The law of insolvency and bankruptcy came in force on 5, May 2016 and introduced by the finance minister late Arun Jaitley in Lok Sabha for the benefit of the businessman and different firm in our country.