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committee

Evolution of the committee of creditors’ authority

By Charanya Lakshmikumaran and Gopal Machiraju, Lakshmikumaran & Sridharan
The role of the committee of creditors (CoC) in a corporate insolvency resolution process (CIRP) has increasingly been scrutinized and clarified by various courts and tribunals, including the Supreme Court. There have also been...
amendments

A commercial primer on 2019 amendments to IBC

By Shweta Bharti and Katyani Mahendru, Hammurabi & Solomon
The Insolvency and Bankruptcy Code (Amendment) Act, 2019, seeks to reduce delays in the resolution process because there has been extensive litigation on various aspects of the IBC. A resolution plan can provide for...
Abhishek Dutta, Vineet Shrivastava and Aayushi Agarwal, Aureus Law Partners

Recent amendments to insolvency regulations

By Abhishek Dutta, Vineet Shrivastava and Aayushi Agarwal, Aureus Law Partners
With the introduction of The Insolvency and Bankruptcy Code (Amendment) Bill, 2019, on 24 July 2019 in the Rajya Sabha, the government has sought to amend the Insolvency & Bankruptcy Code, 2016. Earlier, the...
law firms

Leaders of the pack

India Business Law Journal reveals the top international law firms for India-related matters. Vandana Chatlani reports. Five years ago, when Prime Minister Narendra Modi first came to power he was described by former CNN New...
Deccan Chronicle

Many hurdles in Deccan Chronicle insolvency

The legal team that advised on the Deccan Chronicle Holdings insolvency had to contend with multiple issues and challenges. The National Company Law Tribunal (NCLT) approved the resolution plan put forward by SREI Multiple...
Liquidation

Liquidation under IBC

Dear Editor, In the matter of SC Sekaran vs Amit Gupta & Ors, relying on the decisions of the Supreme Court in Swiss Ribbons Pvt Ltd & Anr v Union of India & Ors and...
insolvency

Insolvency code: Judicial trends

By Abhishek Tripathi and Avantika Shukla, Sarthak Advocates & Solicitors
Abhishek Tripathi and Avantika Shukla look at role of adjudicating bodies in IBC's evolution The Insolvency and Bankruptcy Code, 2016 (IBC), is considered to be among the biggest achievements of the National Democratic Alliance (NDA)...
insolvency

Investing through insolvency code

By Sanjay Asher and Nikhil Kaul, Crawford Bayley & Co.
IBC has created opportunities for equity and debt investors alike, write Sanjay Asher and Nikhil Kaul The Insolvency and Bankruptcy Code, 2016 (code), notified by the government of India in May 2016, was in response...
insolvency

Giving creditors their fair share

By Mahesh Agarwal, Agarwal Law Associates
Protecting the interests of operational creditors is key to IBC's success, writes Mahesh Agarwal The preamble of the Insolvency and Bankruptcy Code, 2016 (IBC), lays out the code’s dual objectives of “maximization of value of...
Shweta-Bharti-Hammurabi-&-Solomon

Commercial implications of RBI circular strike-down

By Shweta Bharti, Hammurabi & Solomon
The Supreme Court recently struck down the Reserve Bank of India Circular dated 12 February 2018 (RBI circular), which directed banks to mandatorily initiate corporate insolvency resolution process (CIRP) for defaulting companies with loan...
Top-100-India-focused-legal-experts-outside-the-country

The International A-List

India Business Law Journal reveals the top 100 India-focused legal experts outside the country View the A-List For more than 20 years the opening of India’s legal market to foreign law firms has been the source...
Board meeting procedures clarified

Former directors must be given agenda before creditors meeting

The Supreme Court, while dealing with an issue relating to the Insolvency and Bankruptcy Code, 2016 (IBC), held that former members of the board of directors, being vitally interested in resolution plans that may...
Deals-of-the-year-Indian-Lawyers-Law-Firms-2

Deals of the Year 2018

India Business Law Journal reveals the most important deals and disputes of 2018 and the law firms behind them. Gautam Kagalwala reports Last year mingled pleasure with pain for debt-strapped India, and many of the...
Insolvency and Bankruptcy Code

In sickness & health

Rajiv Choubey explores the evolution of law surrounding insolvency and bankruptcy, and how regulations designed to protect sick companies had been misused until the Insolvency and Bankruptcy Code was enactedInsolvency and Bankruptcy Code 2016 The...
India business lawyers law firms

Government’s intervention in IL&FS default

Dear Editor, The government’s intervention in Infrastructure Leasing & Financial Services (IL&FS) is symptomatic of the push and pull motions the government faces in liberalizing its economy. Ideally, a few of IL&FS’ infrastructure focussed subsidiaries...

Extension beyond 270 days: New attempt at resolution

By Aniket Sawant and Medha Unadkat, SNG & Partners
Strict timelines distinguish the Insolvency and Bankruptcy Code, 2016, from previous insolvency regimes. The code prescribes a 180-day period for completion of the corporate insolvency resolution process (CIRP), which can be extended to 270...

Homebuyers’ arsenal adds financial creditor status

By Aditya Vikram Dua and Satish Anand Sharma, SNG & Partners
With the recent amendment in the Insolvency and Bankruptcy Code, 2016 (IBC), effective 6 June 2018, the status of homebuyers who are allottees of a real estate project is raised to financial creditors, enabling...

Recognition of homebuyers: Sympathy without security

By Varsha Banerjee and Juhi Bhambhani, Dhir & Dhir Associates
The fate of homebuyers when a real estate developer (RED) undergoes a corporate insolvency resolution process (CIRP) under the Insolvency and Bankruptcy Code, 2016 (IBC), has been intensely deliberated. An amendment of the IBC...
Deepak-Sabharwal,-Deepak-Sabharwal-&-Associates

Changes aim to halt abuse of insolvency proceedings

By Deepak Sabharwal, Deepak Sabharwal & Associates
A rise in high-profile banking frauds led to the Insolvency and Bankruptcy Code (Amendment) Ordinance, 2018. The ordinance, effective from 6 June, presses for greater transparency in the corporate insolvency resolution process (CIRP), to...

High fliers

Lawyers from around the world have had a busy year in India working on deals while adhering to the country’s ‘fly-in fly-out’ model. India Business Law Journal reveals the top international firms that are...