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    Certificate Course in Insolvency and Bankruptcy Code

    BY
    LawSikho

    Gain IBC knowledge and strategic thinking with a Certificate Course in Insolvency and Bankruptcy Code by LawSikho

    Enquire
    Mode

    Online

    Duration

    3 Months

    Fees

    ₹ 15000

    Inclusive of GST

    Quick Facts

    particular details
    Medium of instructions English
    Mode of learning Self study, Virtual Classroom
    Mode of Delivery Video and Text Based
    Frequency of Classes Weekdays, Weekends
    Learning efforts 6-8 Hours Per Week

    Course overview

    The Certificate Course in Insolvency and Bankruptcy Code duration is 3 months. The course focuses on providing training on assignments, drafting applications to be filed before the NCLT and developing strategy building. The programme is designed for bankers, officers in NBFCs, insolvency professionals, aspirants taking LP exams, lawyers, and Law students looking to work in banks. 

    The certification course offers a comprehensive curriculum that includes an overview of insolvency laws in India, initiation of insolvency as a financial creditor, operational creditor and initiation of insolvency by a corporate debtor. The Certificate Course in Insolvency and Bankruptcy Code by LawSikho provides complete coverage of corporate insolvency resolution, liquidation process, and bankruptcy proceedings.

    Also Read: Online Banking Courses & Certifications

    The highlights

    • 1 Online Live Class/Week
    • 3 Writing Assignments  
    • 2 Practical/Drafting Exercises Per Week
    • One-on-One Session With Mentors
    • Training for Writing and Publishing Articles 
    • Top Performers Recommended for Jobs/Client Opportunities

    Program offerings

    • Cv enhancement
    • Doubt clearing within 24 hours
    • Placement assistance
    • Internship and job support
    • Interview preparation guidance
    • Access to online content for 3 years
    • Internship & job support

    Course and certificate fees

    Fees information
    ₹ 15,000  (Inclusive of GST)

    The Certificate Course in Insolvency and Bankruptcy Code fee is Rs 15,000 including all taxes and charges for the Standard Access and Master Access is Rs 2,00,000. 

    Certificate Course in Insolvency and Bankruptcy Code Fee Structure

    Certification Course 

    Fees 

    Certificate Course in Insolvency and Bankruptcy Code (Standard Access)

    Rs 15,000

    Certificate Course in Insolvency and Bankruptcy Code (Master Access) 

    Rs 2,00,000

    certificate availability

    Yes

    certificate providing authority

    National Skill Development Corporation +1 more

    Who it is for

    Lawyer Investment banker Corporate lawyer

    The certificate course is designed for aspiring law students, and working professionals to enhance their skills. This course is also beneficial for:

    Eligibility criteria

    Certification Qualifying Details

    To receive the certificates upon the completion of the Certificate Course in Insolvency and Bankruptcy Code, the candidates are required to complete all exercises and writing assignments to receive a certificate. They will receive a certificate co-branded by NSDC and Skill India and will be sent to their provided address via courier.

    What you will learn

    After completing the Certificate Course in Insolvency and Bankruptcy Code syllabus, the students will learn various aspects of the mechanism of recovery of debts under IBC and drafting work. They will also learn to manage the entire process of a resolution plan by NCLT and create or assess an insolvency resolution plan.

    The students will gain in-depth knowledge of the commercial aspects of IBC, drafting various documents, petitions, and applications upon the completion of the Certificate Course in Insolvency and Bankruptcy Code training. They will also learn to take action on behalf of secured creditors and enforce the priority of claims regarding the case of liquidation.

    The syllabus

    Overview of Insolvency Laws in India

    Why was IBC introduced and how is it different from the earlier regime?
    • Prior regime and necessity for laws on insolvency
    • How to decide whether to invoke SARFAESI, RDBA or IBC?
    Glossary of key terms in the IBC
    • Meaning of ‘creditor’ and types of creditors
    • Division of chapters under the Code
    Financial creditors vs. operational creditors - who is better off and why?
    • Classification of creditors
    • Financial creditors vis-a-vis operational creditors
    Career opportunities under the Code
    • Being an insolvency professional
    • Teaming up with the resolution professional
    • Being a specialised insolvency lawyer
    What are information utilities under IBC and how do they work?
    • What are information utilities and the laws regulating them?
    • What are the services provided by information utilities?
    • What services do information utilities provide to insolvency professionals?
    • Who appoints and pays information utilities?
    • Who can access information stored with information utilities? What is the procedure to do so?
    • Is it mandatory for a creditor to sign up with the information utility?
    • Significance of information utilities in coming days
    • How to register oneself as an information utility
    How to choose between winding-up and liquidation?
    • Difference between winding-up and liquidation
    • Changes brought about by IBC vis-a-vis winding-up provisions under Companies Act, 2013
    • Is ‘inability to repay’ a determinant while choosing route between Companies Act and IBC?
    • What does a Companies Act winding-up petition seek? Is it different from an application for liquidation?
    • Types of costs and their position in the waterfall mechanism
    • Timelines for completion of winding-up/liquidation process
    • Report of the liquidator
    Overview of IBC: Corporate Insolvency Resolution Process and Timelines
    • Procedure of CIRP
    • Timelines under Corporate Insolvency Resolution Process
    Template: Legal Opinion

    Initiation of Insolvency as a Financial Creditor

    Initiation of insolvency by financial creditors
    • Who is a financial creditor?
    • What constitutes a financial debt?
    • What are the prerequisites for a financial creditor to initiate insolvency proceedings?
    • Issues in financial debt
    • Applicability of Limitation Act to IBC
    • Relevant jurisprudence regarding applications by financial creditors
    How to draft an application to initiate insolvency by a financial creditor?
    • Format of the application and governing provisions
    • Gathering necessary information for drafting an application to initiate insolvency
    • Relevant jurisprudence
    Advanced issues for financial creditors
    • Assignees of debt as creditors
    • Receipt of verification of creditor’s claim by insolvency professional
    • Guarantors and IBC
    Insolvency proceedings against personal guarantors
    • What is the difference between insolvency and bankruptcy?
    • Who provides personal guarantee for debts of a company? What is the nature of this liability vis-a-vis corporate debts?
    • Procedure for initiating insolvency proceedings against homebuyers
    Strategic insights regarding insolvency proceedings against guarantors
    • Is it possible to proceed against a guarantor without proceeding against the corporate debtor?
    • Whether proceedings against guarantors should be invoked at NCLT or DRT
    • Precautions to be considered before become a guarantor
    • Other strategies a creditor may opt for debt recoupment
    Initiation of insolvency by homebuyers
    • When do homebuyers typically resort to insolvency resolution?
    • Can a single homebuyer launch an insolvency petition?
    • Which forum is best for homebuyers? RERA, NCLT or consumer fora?
    • Can insolvency proceedings be filed before NCLT during the pendency of a consumer dispute?
    • Can homebuyers across various projects of a builder come together and initiate insolvency action?
    • In the backdrop of the reverse CIRP, do homebuyers stand in a better position over other financial creditors?
    Templates
    • Application by financial creditor to initiate insolvency
    • Reply to insolvency application by financial creditor 
    • A settlement agreement between homebuyer and builder

    Initiation of Insolvency as an Operational Creditor

    Initiation of insolvency by operational creditors
    • Who is an operational creditor and what constitutes operational debt?
    • What are the prerequisites for an operational creditor to initiate insolvency?
    • Drafting a demand notice under Section 8
    How to draft an application to initiate insolvency by operational creditors
    • Necessary information for drafting the application
    • Format of the application
    Templates
    • Demand notice
    • Application by operational creditor to initiate insolvency
    • Appeal to NCLAT under Section 61

    Initiation of Insolvency By Corporate Debtor

    Initiation of Corporate Insolvency Resolution Process by Corporate Debtor/Applicant
    • Why would a company initiate its own insolvency?
    • What are the prerequisites for a corporate applicant to initiate the insolvency resolution process?
    • NCLT’s directions on rejection of Section 10 applications
    How to draft an application to initiate insolvency resolution process by a corporate debtor
    • Necessary information for drafting application to initiate insolvency
    • Drafting the application
    • Important points not to be overlooked

    Aftermath of Initiation of Insolvency

    Role of NCLT in Insolvency Cases
    • Introduction to NCLTs
    • Examination of NCLT’s role under the Code
    • Grounds of admission or rejection of an application
    • Time limit on NCLT to adjudicate on an insolvency application
    • Practical perspective- steps in the adjudication of an application by NCLT
    Admission of insolvency application and consequences
    • Application and scope of moratorium
    • Effect of moratorium on various proceedings/suits
    • Appointment of an interim resolution professional
    • Initial duties and role of the interim resolution professional
    Constitution of Committee of Creditors
    • Who form members of the CoC?
    • Can financial creditors appoint an authorised representative to participate in the CoC?
    • What happens if there are no financial creditors of a corporate debtor?
    How to file claims with the resolution professional
    • Who can file a proof of claim?
    • Prerequisites before filing a claim
    • Evidence of debt
    • How to draft a proof of claim
    Templates
    • Power of attorney
    • Proof of claim by operational creditor

    Admission/Rejection of a Claim

    How are claims admitted or rejected by the resolution professional?
    • Verification of claims by resolution professional
    • Consequences of admission or rejection of a claim
    • Challenging resolution professional’s rejection of claim before NCLT
    Templates
    • Application seeking payment of insolvency resolution costs
    • Application against rejection of claim

    Meetings of CoC and their Duties

    How does the committee of creditors work and decide matters?
    • Conduct of CoC meetings
    • Appointment of resolution professional
    • Duties and powers of CoC
    • Voting by CoC on resolutions
    One-Time Settlement
    • What is a one-time settlement? 
    • How does one-time settlement work in the context of IBC? 
    • When can the OTS scheme be accepted/implemented?

    Role and Duties of the Resolution Professional

    What are the roles and duties of the resolution professional?
    • Management of the business of the corporate debtor
    • Conducting and regulating the meetings of the CoC
    • Preparation of the information memorandum
    • Communicating with stakeholders
    Lookback period and avoidance of transactions for corporate debtors
    • Meaning of the term ‘related party’
    • Who performs a look back?
    • Preferential transactions
    • Undervalued transactions
    • Extortionate credit transactions
    • Fraudulent transactions
    • Cases
    Lookback period and avoidance of transactions for personal guarantors
    • Preferential transactions
    • Undervalued transactions
    • Extortionate credit transactions
    Code of conduct applicable to insolvency professionals
    • The code of conduct
    • Circulars issued with respect to conduct of insolvency professionals
    • Disciplinary proceedings against insolvency professionals

    Inviting Prospective Resolution Applicants

    How to invite resolution plans from prospective resolution applicants
    • Who are resolution applicants and why do they submit resolution plans?
    • Criteria for eligibility of resolution applicants
    • How are resolution applicants invited?
    Drafting invitations for expression of interest
    Disqualification of resolution applicants
    • Why were disqualifications under Section 29A introduced?
    • Who is disqualified from submitting a resolution plan?
    • How has the judiciary interpreted and applied the ineligibility criteria?
    Section 29A and case study of Essar Steel
    • Reasons for rejection of resolution plan
    • Challenge before NCLT
    • Challenge before NCLAT
    • Amendment to IBC and challenge before the Supreme Court
    Video: Distress mergers and acquisitions - resolution plans

    Approval/Rejection of Resolution Plan by COC

    Approval or rejection of resolution plan by the committee of creditors
    • Approval of expressions of interest and invitation of resolution plans
    • Drafting and submission of resolution plans
    • On what factors does the resolution professional and the committee of creditors decide to approve a particular plan?
    • Can the resolution applicant challenge the rejection of the resolution plan?
    • What happens if the CoC does not approve any resolution plan?
    Templates
    • Information memorandum
    • Invitation for submission of resolution plans
    • Insolvency resolution plan

    Approval/Rejection of Resolution Plan by NCLT

    NCLT proceedings for approval or rejection of resolution plan
    • Submission of resolution plan to the NCLT
    • Adjudication of the resolution plan by the NCLT
    • Consequences of approval of resolution plan
    • Consequences of rejection of resolution plan
    • Bird’s eye view of timelines under IBC
    Liquidation process under the Code
    • Comparison of insolvency resolution and liquidation process
    • Initiation of liquidation process
    • Consequences of initiation of insolvency proceedings
    • Maintenance of the corporate debtor as a going concern
    • Priority of claims and waterfall
    Changes in liquidation regime
    • Applicability of amendments
    • Contribution to liquidation cost by financial creditors
    • Stakeholders consultation committee
    • Relinquishment of security interest and proportionate sacrifice for costs and workmen claims
    • Optional revaluation of assets and determination of reserve price
    • Sale as a going concern before asset sale
    • Compromise or arrangement under Companies Act, 2013
    • Liquidation model timeline
    • Compliance report by liquidator along with application for dissolution
    Impact of actions under Prevention of Money Laundering Act, 2002 on the insolvency process under the Code
    • What is the purpose of the PMLA? What proceedings and offences are envisaged under the Act?
    • What is the process followed under the IBC?
    • In what ways do the proceedings under PMLA and IBC intersect? What issues arise from their interface?
    • Are there any possible resolutions to this conflict?

    Admission details

    Students can join the Certificate Course in Insolvency and Bankruptcy Code classes by following the below-mentioned steps: 

    Step 1: Browse the link mentioned below:

    https://lawsikho.com/course/insolvency-bankruptcy-code-ibc-nclt-sarfaesi

    Step 2: Candidates must click on the “Enroll Now” button, add the necessary information, click on the “Proceed for Plan and Payment” and pay the course fee and submit.

    Evaluation process

    The students are required to attempt an MCQ test online. It can be given on the Learning Management System and candidates are not required to go to any special centres to write the test. They can log in to the online Learning Management System from their convenient place using a computer and complete the exam in one sitting.

    How it helps

    The Certificate Course in Insolvency and Bankruptcy Code benefits include:

    • The candidates will get various benefits while pursuing this certification course such as 1 online live class, 2 practical exercises per week, 3 writing assignments, live doubt-clearing support, and one-on-one sessions with mentors. 
    • They will also get the opportunity to access the entire digital study material for 3 years on LMS, Android, and iOS apps. 
    • Candidates will also receive assistance for CV enhancement, interview preparation, networking with other students and alumni, and internship and job support.
    • Top performers in the course will be recommended to law firms and companies.

    FAQs

    What is the duration of the Certificate Course in Insolvency and Bankruptcy Code training?

    The certification course duration is 3 months. The course offers various readings on the latest developments in the market and concepts, amendments, case laws and ongoing controversies.

    Who can pursue the online Certificate Course in Insolvency and Bankruptcy Code?

    The bankers, officers in NBFCs, insolvency professionals, aspirants taking LP exams, lawyers, and law students looking to work in banks, real estate, corporate law firms, manufacturing, debt-heavy sectors, technology and e-commerce companies.

    Who are the potential employers for the Certificate Course in Insolvency and Bankruptcy Code?

    The potential employers are banks, NBFCs, law firms, lawyers specialising in money recovery and corporate litigation, huge conglomerates with many recovery matters, and companies with large amounts due from corporate clients.

    Do students get hard copy study materials for the online Certificate Course in Insolvency and Bankruptcy Code?

    Yes, within 45 days of the course starts. Online classes, videos, regulatory updates and periodic upgrades to the courses will not be included. Students must refer to the online library of materials from time to time.

    Are students required to maintain a minimum attendance?

    There is no minimum attendance requirement needed but it is recommended. Online weekly classrooms will be for 40 minutes to an hour in which all the doubts and feedback by experts on assignments are given.

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