The Hon’ble National Company Law Appellate Tribunal (New Delhi Bench) (“NCLAT”) in the case of Suraksha Realty Ltd. v. Mr. Anuj Bajpai (“Suraksha Realty”) confirmed the rejection of the claim filed by Suraksha...

The extension of the mandate of the arbitral tribunal provided in Section 29A(3) of the Arbitration and Conciliation Act, 1996, is a question of law which has invited varied and diverging views of the different High...

In a landmark decision, a three-judge bench of the Hon’ble Supreme Court, while disposing off over 350 writ petitions, in Dilip B. Jiwarajka v. Union of India and Ors., upheld the constitutional validity of several...

In this India chapter of Lexology In-Depth: Global Damages; 6th Edition, the primary focus revolves around the provisions of the Indian Contract Act relating to the award of damages and also includes the role of expert...

On 21 September 2023, the Supreme Court of India provided much needed clarity on interpretation of Section 13(8) of the SARFAESI Act, 2002, which was amended to permit borrowers to redeem mortgaged property from banks...

A short excerpt on the recent judgment of a five-member special bench of the National Company Law Appellate Tribunal (NCLAT), wherein it held that the NCLAT has the power to recall its own orders on sufficient grounds,...

The Insolvency and Bankruptcy Code, 2016 (“Code”) seeks to consolidate the existing legal framework for debt recovery in India. The Code is an all-encompassing law and provides rules and regulations with respect to...

While the Resolution Professional acclimatizes itself in the evolving insolvency regime in India, the issues pertaining to impartiality become relevant. Sushmita Gandhi, Darpan Bhatia, and Prapti Kedia discuss the pros...

What started as a health crisis has transformed rapidly into a pitched battle between lives and livelihoods. The Organization for Economic Cooperation and Development apprehends that the global economy will suffer the...

With the advent of consolidation and enactment of laws on insolvency and admiralty, the issue of conflict between the two laws has arisen where the ship owner becomes subject to IBC proceedings. Sushmita Gandhi, Prapti...

On March 27, 2020, to mitigate the impact of COVID-19 on the financial market, the RBI announced a regulatory package, through which it allowed a specific moratorium on the repayment of debt, the relaxation of certain...

On January 6, 2020, the Insolvency and Bankruptcy Board of India (the 'IBBI') notified the Insolvency and Bankruptcy Board of India (Liquidation Process) (Amendment) Regulations, 2020 (the 'Amendment') to further amend...

The Insolvency and Bankruptcy Code, 2016 (the 'Code') has faced a barrage of amendments and course correction from both the judiciary as well as the legislature. The latest and perhaps the most significant amendment in...

The Insolvency and Bankruptcy Board of India has notified amendments to the IBBI (Insolvency Resolution Process for Corporate Persons) Regulations, 2016 and the IBBI (Liquidation Process) Regulations, 2016 on July 25,...

The recent Supreme Court judgement in Swiss Ribbons, upholding the constitutionality of the Insolvency & Bankruptcy Code, has considerable implications for resolution applicants and promoters. Do the courts have the...

During 2018, our lawyers shared their thoughts on a number of major legal developments impacting the Indian economy, spanning a wide arc from data usage and data protection to insolvency resolution and foreign...

The Supreme Court of India recently dismissed an appeal by a competing resolution applicant, asserting that the acceptance of UltraTech's recent resolution plan to acquire the distressed Indian cement manufacturer,...

Earlier this month, the Supreme Court of India passed a judgment concerning the eligibility of resolution applicants for Essar Steel India Limited. INDUSLAW's Saurav Kumar, Harman Walia and Jaskiran Kaur discusse the...

The Insolvency & Bankruptcy Code currently has no clear framework for cross border insolvency. That's about to change, with the Ministry of Corporate Affairs recently inviting comments on the draft chapter, broadly...

The President of India promulgated the Insolvency and Bankruptcy Code (Amendment) Ordinance, 2018 (the 'Ordinance') on 6 June 2018 to amend the Insolvency and Bankruptcy Code, 2016 (the 'Code'), which amongst other...

The regulator of Indian securities market, the Securities and Exchange Board of India ('SEBI') on May 31, 2018, notified amendments to the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011...

Cross border insolvency inevitably boils down to a scramble for assets, leaving creditors confused about the options available to them. INDUSLAW were delighted to have been invited by the National Law School in...

Earlier in January, the Insolvency and Bankruptcy Code (Amendment) Act (the "Amendment Act") came into force amending the Bankruptcy and Insolvency Code, 2016 (the "Code"), by substantively incorporating changes...

It's no secret that the Indian banking industry has a rather large number of loans outstanding that have simply gone wrong. With non-performing loans estimated at just over INR 6.3 trillion1 market. In this context, the...

The Insolvency and Bankruptcy Code, 2016 (the “Code”) passed by the Lok Sabha on 5th May, 2016[1] seeks to provide a framework for time-bound settlement of insolvency by formulating a survival mechanism or...