Category: IBC

Glas Trust Co. LLC v. Byju Raveendran: Confronting Financial Cross-Roads

13th December, 2024 - 12:32 pm Categories: IBC Legal Case

In 2018, Byju Raveendran was the toast of India’s start-up world as his eponymous edtech company, Byju’s, was crowned a unicorn.[1] Similarly, signifying Byju’s downfall is the case of Glas Trust Co. LLC v. Byju Raveendran which is of great significance as it raises issues delving into the company’s fiduciary responsibilities to their creditors, the … Continue reading Glas Trust Co. LLC v. Byju Raveendran: Confronting Financial Cross-Roads

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Cross Border Insolvency and India’s Approach: Insights from Recent NCLT Rulings

27th November, 2024 - 7:25 am Categories: IBC

Cross-border insolvency is an important area of concern for the new world order where a multi-jurisdictional economic transaction by corporate entities is common place. Issues arising from such cross-border insolvency are very complex, requiring an effective and efficient legal mechanism in balancing the interests of all stakeholders, namely, debtors, creditors, and other parties. Though emerging … Continue reading Cross Border Insolvency and India’s Approach: Insights from Recent NCLT Rulings

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Prolonging PPIRP Scrutiny: Crucial for Optimal Resolution?

21st October, 2024 - 6:40 am Categories: IBC

Introduction The entire body of law in India for resolving bankruptcy affecting all entities, whether corporate or individual, is the Insolvency and Bankruptcy Code, 2016 (Code/IBC). It responds to the growing demand for an all-encompassing law that would be efficient in resolving debtors’ insolvency, optimizing the value of assets accessible for creditors, and facilitating the … Continue reading Prolonging PPIRP Scrutiny: Crucial for Optimal Resolution?

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Insolvency and Bankruptcy Code- A Revolutionary Policy

22nd July, 2024 - 7:28 am Categories: IBC

Introduction This is one of the most important case studies for a law student. As, we all know what happened to Kingfisher Airlines and if you remember these kind of defaults and thousands of crores in losses were not a new thing in India at all. In May, 2023, “Go First” has decided to file … Continue reading Insolvency and Bankruptcy Code- A Revolutionary Policy

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NCLT on Gitanjali Gems Liquidation: Analysing its Role and Authority Under IBC, 2016

7th June, 2024 - 6:39 am Categories: IBC

Introduction The jewellery retailer Gitanjali Gems, which is owned by the wanted man Mehul Choksi, notified the exchanges on Monday that the NCLT Mumbai bench has mandated the company’s liquidation. The decree came into effect on February 7, 2024. A company or corporation may be liquidated by winding up its operations by selling off its … Continue reading NCLT on Gitanjali Gems Liquidation: Analysing its Role and Authority Under IBC, 2016

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Decoding the Insolvency and Bankruptcy Code (Ibc) For Corporate Restructuring in India

6th May, 2024 - 6:05 am Categories: IBC

INTRODUCTION India’s corporate environment was dramatically altered following the enactment of Insolvency and Bankruptcy Code (IBC) in 2016. This landmark legislation has ushered in a new era of responsibility, efficiency and transparency within the areas of corporate restructuring along with bankruptcy resolution. The IBC is a paradigm shift from the older fragmented and protracted legal … Continue reading Decoding the Insolvency and Bankruptcy Code (Ibc) For Corporate Restructuring in India

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Conundrum of Limitation Period under IBC and Inapplicability of the Doctrine of Election

25th January, 2024 - 7:05 am Categories: IBC

Recently the Supreme Court in the case of Tottempudi Salalith v State Bank of India & Ors.[1] (Tottempudi Salaith) held that the doctrine of election cannot be applied to prevent a financial creditor to approach the National company law tribunal (NCLT) for initiating a Corporate Insolvency Resolution Process (CIRP) against the corporate debtor under Section … Continue reading Conundrum of Limitation Period under IBC and Inapplicability of the Doctrine of Election

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National Company Law Tribunal’s (NCLT’s) Role in Corporate Restructuring: A Comprehensive Analysis

4th January, 2024 - 7:25 am Categories: Company Law IBC NCLT

Introduction Established under the Companies Act of 2013, the National Company Law Tribunal is a quasi-judicial body that renders decisions on issues pertaining to Indian corporations. In accordance with the 2016 Insolvency and Bankruptcy Code, the National Company Law Tribunal is tasked with adjudicating matters corresponding to the insolvency resolution process, corporate reconstruction, and limited … Continue reading National Company Law Tribunal’s (NCLT’s) Role in Corporate Restructuring: A Comprehensive Analysis

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Navigating The Choppy Waters Of India’s Solvency And Bankruptcy Code

28th July, 2023 - 7:23 am Categories: IBC

Introduction The Insolvency and Bankruptcy Code, 2016 (referred to as IBC or the Code) is India’s bankruptcy law, designed to consolidate the existing framework by creating a comprehensive statute for handling insolvency and bankruptcy cases. The introduction of IBC aimed to completely overhaul India’s financial distress resolution system, as the prevalence of Non-Performing Assets and … Continue reading Navigating The Choppy Waters Of India’s Solvency And Bankruptcy Code

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Proposed Amendments To The Insolvency And Bankruptcy Code

25th May, 2023 - 7:10 am Categories: IBC

Insolvency and Bankruptcy Code, 2016, as amended (“Code”) regulations claim that countless cases of failing real estate businesses, including significant players like Jaypee Infratech, and Supertech, have been stalled at various stages of insolvency procedures over the past few years. It is being estimated that 344 corporate debtors involved in construction and real estate operations … Continue reading Proposed Amendments To The Insolvency And Bankruptcy Code

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