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Search results: Insolvency and Bankruptcy Code, 2016

Karthik Somasundram and Shreya Gupta, Bharucha & Partners

Time-barred debts and the insolvency code

By Karthik Somasundram and Shreya Gupta, Bharucha & Partners
The Insolvency and Bankruptcy Code, 2016, has been construed as a complete code. Based on that construction and noting that the code contained no provision expressly making the Limitation Act applicable, and as the...
Abhishek-Dutta,-Vineet-V-Shrivastava-and-Manish-Parmar-Aureus-Law-Partners

Existence of dispute under insolvency code

By Abhishek Dutta, Vineet V Shrivastava and Manish Parmar, Aureus Law Partners
Under the Insolvency and Bankruptcy Code, 2016, the corporate insolvency resolution process (CIRP) can be initiated by an operational creditor if there is no dispute in relation to the default on the part of...
By-Aditya-Vikram-Dua-and-Aniket-Sawant-SNG-&-Partners - 副本

Revisiting loan documents in light of insolvency code

By Aditya Vikram Dua and Aniket Sawant, SNG & Partners
The interests of banks, financial institutions and other lenders and recovery of loans advanced by them is at the heart of the insolvency framework introduced by the Insolvency and Bankruptcy Code, 2016 (code). Although...

Cross-border insolvency report: A bird’s eye view

By Abhishek Dutta and Astha Srivastava, Aureus Law Partners
The Insolvency Law Committee issued a report on cross-border insolvency in October after considering public comments received on a draft framework issued by the Ministry of Corporate Affairs. The committee considered the UNCITRAL Model...

Managing and mitigating risks in distress transactions

By Dorothy Thomas and Teza Jose, Shardul Amarchand Mangaldas & Co
In the last two years, we have seen a significant rise in M&As, largely driven by big ticket consolidation across sectors as companies divested distressed assets in an effort to reduce debt. The Insolvency...

Unfair balance: Guarantees and the insolvency code

By Satish Anand Sharma and Devashree Limaye, SNG & Partners
The uncertainty on whether guarantees would attract moratorium under section 14 of the Insolvency and Bankruptcy Code, 2016 (code), has ended with the promulgation of the Insolvency and Bankruptcy Code (Amendment) Ordinance, 2018 (ordinance).This...
cross-border insolvency discussed by Abhishek Dutta

Cross-border insolvency requires a new framework

By Abhishek Dutta and the Knowledge Management Team, Aureus Law Partners
While a corporate entity may have creditors, debtors and assets in various countries, the Insolvency and Bankruptcy Code, 2016 (IBC), in its current avatar has no comprehensive legal framework on cross-border insolvency (CBI). The...

NCLAT clarifies ‘dispute’ under the insolvency code

The National Company Law Appellate Tribunal (NCLAT) recently held in an appeal against the Allahabad bench of the National Company Law Tribunal (NCLT) that any disputes within a corporate debtor company is not one...
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...
India business lawyers law firms

IBC’s position on supply of essential goods and services

Dear Editor, Section 14(2) of the Insolvency and Bankruptcy Code, 2016 (IBC), states that the “supply of essential goods or services to a corporate debtor shall not be suspended during the moratorium period”. The purpose...

Sound insolvency resolution key to infrastructure growth

By Divyanshu Pandey and Arpita Garg, J. Sagar Associates
Infrastructure developers in India have traditionally placed significant reliance on bank financing for infrastructure development. However, because of aggressive bidding, delayed payments causing strain on cash flows and lack of a secondary market for...

Jury is out on aspects of winding up and insolvency

By Varsha Banerjee, Dhir & Dhir Associates
Winding up proceedings were earlier initiated and conducted under the Companies Act, 1956. However, with the coming into force of the Companies Act, 2013, and the Insolvency and Bankruptcy Code, 2016 (IBC), the process...