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 s...
Published On: 11/06/2018
Practice Area: Banking & Finance, Corporate & Commercial, Insolvency & Restructuring
Authors:
Ran Chakrabarti
Harman Walia
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 things, categorizes homebuyers as financial creditors, amends decision making thresholds and clarifies whether proceedings against guarantors fall within or outside of the moratorium during the corporate insolvency process.
