Webinar: Recovering Bad Debts from Customers in India

17 July 2019
1pm EST

(You can convert this to your local time here: https://www.timeanddate.com/worldclock/converter.html)

Overview:

1. About our speaker

  • Mr. Ajay Joseph – Partner, Veyrah Law

2. Why is this relevant to you?

  • Cash flow stuck due to unpaid receivables
  • Lack of alternative efficient remedies in India
  • Ericsson Vs. Reliance Communications Case

3. Intent & Objective of the Insolvency and Bankruptcy Code, 2016

  • Resolve banking crisis in India
  • Facilitate time bound process to resolve debts and liquidation
  • Improve ease of doing business in India
  • Improve financial discipline among businesses

4. Key Concepts

  • Debts – Financial Debt, Operational Debt
  • Default
  • Types of Creditors
  • Corporate Debtor
  • Resolution Professional

5. Advantage over normal court process

  • Management loses control
  • Decision in most cases within 6-9 months
  • Normal court process can take 5 years or more!
  • Cost effective

6. Who can file a claim under IBC?

  • Operational Creditor
  • Financial Creditor
  • Corporate Debtor

7. Eligibility to file as an Operational Creditor

  • Unpaid amounts should be for supply of services or goods;
  • Unpaid amount threshold of INR 1,00,000/- (approx. USD 1400);
  • Unpaid amount should have become due and payable;
  • Absence of dispute from customer regarding invoice/goods/services;
  • Debt not due over 3 years.

8. Process for recovery of claim

  • Statutory Notice
  • Jurisdiction for filing claim
  • Supporting documents required
  • Appointment of interim resolution professional
  • Timelines & costs

9. Strategic Considerations

  • Financial health of defaulting customer
  • Existing insolvency proceedings
  • Cost benefit analysis – more the value of unpaid debt the more efficient this option is!
  • Settlement Strategy

10. Veyrah Law’s Role

  • Assessment of merits of claim – probability of success
  • Representation before courts
  • Coordination with various stakeholders
  • Negotiation & drafting of settlement agreements

Attending this webinar

  • This webinar runs 30-45 minutes.
  • To attend you only need your internet connected device and headphones or speakers.
  • Attendees will be able to ask questions and interact with the speaker and other participants live.
  • Please log in at least 10 minutes before the presentation is due to start.

Frequently asked questions about webinars

Want to Get Noticed? Present a Webinar!

Webinars are a powerful item in any business arsenal – and running a webinar is a smart business development policy. If you’re thinking about best practices for attracting new customers and growing your client base.

International Trade Council hosted webinars are attended by CEO’s of Fortune 500 companies, government agencies, chambers of commerce and small businesses alike. The average webinar receives up to 350 registrations, of which approximately 60{5fd5d0c347966b9ca8e0f456e16034dfe54ed0385696705fc3c1ddd66732c056} will appears on the day of the event.

Hosting a webinar enables your company to highlight its skills, knowledge, products and services. The webinar would also benefit from the human element, it allows you to put a real face to your company, which assists in engaging your audience to become emotionally invested in your business.

What the Council will do to facilitate this (free of charge):

  • Provide the webinar platform and training
  • Send email invitations to all members and newsletter subscribers
  • Send email invitations to select target groups in the Council’s CRM (up to 2.3 million depending on the webinar subject)
  • Post details of the Webinar on the ITC website
  • Post details of the Webinar on the ITC social media pages
  • Send regular email reminders to registered attendees
  • Provide a live moderator on the day of the webinar
  • Provide you with a spreadsheet (Microsoft Excel) list of registrants and attendees with their contact details
  • Send a Certificate of Attendance to all attendees (PDF format – electronic copy only) together with an email containing the full contact details of the presenter

What You Need To Provide:

  • A fully developed 30-45 minute educational webinar (not advertising) on a topic relative to your industry.
  • The ability to answer questions and participate with the audience for 15-20 minutes at the end of the webinar.

Hosting Webinars Develops Authority and Trust

Hosting a webinar enables your company to highlight its skills, knowledge, products and services. The webinar would also benefit from the human element, it allows you to put a real face to your company, which assists in engaging your audience to become emotionally invested in your business.

If you are interested in hosting a webinar please email: webinars@tradecouncil.org