ARTICLE · 19 MARCH 2026

CCDs vs OCDs Under The IBC: Can Debenture Holders Trigger Insolvency? (Video)

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In this episode of the Legal Podcast bite powered by IndiaLaw LLP, host Saijeet Mohanty explores the complex legal treatment of hybrid financial instruments such as Compulsorily Convertible Debentures...

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In this episode of the Legal Podcast bite powered by IndiaLaw LLP, host Saijeet Mohanty explores the complex legal treatment of hybrid financial instruments such as Compulsorily Convertible Debentures (CCDs) and Optionally Convertible Debentures (OCDs) under the Insolvency and Bankruptcy Code, 2016.The episode explains whether investors holding such instruments can qualify as financial creditors and initiate insolvency proceedings against a company. Through landmark rulings including 'FCI Limited v. Sutanu Sinha & Anr.', 'Santosh Kumar v. ASK Trusteeship Services Pvt. Ltd.', and 'Pioneer Urban Land and Infrastructure Ltd. v. Union of India', the discussion clarifies the distinction between equity-linked investments and financial debt.

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