HSA | Restructuring & Insolvency Monthly Update | August 2023

India's Insolvency and Bankruptcy Code undergoes significant reform through the 2026 Amendment Act, introducing stricter timelines, enhanced creditor oversight, and frameworks for group and cross-border insolvency. The amendments address persistent challenges in resolution efficiency, withdrawal restrictions, and fraudulent transaction scrutiny while aligning with international best practices to strengthen investor confidence.

The Insolvency and Bankruptcy Code (Amendment) Act, 2026 (‘Amendment Act’), which amends the Insolvency and Bankruptcy Code, 2016 (‘Code’), received Presidential assent on April 6, 2026. Most amendments took effect on May 26, 2026. However, three significant mechanisms the accelerated admission deadline, creditor-initiated resolution, and group insolvency have been enacted but have not yet come into force and will take effect only upon the issuance of a commencement notification by the Central Government under the applicable provisions of the Code.

This paper is a comment on this judgment. It critically analyses the decision of the Supreme Court and the impact of the judgment on insolvency law in India.

List of applications admitted by NCLTs under Insolvency and Bankruptcy Code, 2016 with details of public announcements inviting claims

The Bombay High Court recently addressed a critical question regarding the temporal application of Section 96(4) of the Insolvency and Bankruptcy Code, which removed the interim moratorium protection for personal guarantors of corporate debtors. The ruling clarifies whether this amendment applies only to fresh applications filed after its enactment or extends to insolvency proceedings that were already pending when the law changed. This decision has significant implications for creditors seeking to pursue p

India's insolvency regime is entering a decisive phase of reform. Nearly a decade after the Insolvency and Bankruptcy Code, 2016 ("IBC") came into force, the Insolvency and Bankruptcy Code (Amendment) Bill, 2026, reportedly passed by the Lok Sabha on 30 March 2026, introduces a series of targeted changes aimed at improving the efficiency and predictability of the framework.

The Hon'ble Supreme Court in its recent decision in Anjali Rathi and Ors. v. Today Homes & Infrastructure Pvt. Ltd. and Ors.

For nearly eight years, the Insolvency and Bankruptcy Code, 2016 (IBC) carried within it a quiet contradiction. On the one hand, it was designed to be a serious, time-bound, collective resolution mechanism and a creditor-driven process. On the other hand, it contained Section 12A, a provision that became one of the most strategically exploited exits in Indian commercial law.

The situation of personal insolvency in India is characterized by a stagnant system that is both inefficient and ineffective.

In the regime of insolvency and bankruptcy law in India, the question of when and how the liabilities of Personal Guarantors crystallize has become increasingly significant.

The Government of Maharashtra has taken a significant step towards enhancing ease of doing business by rationalising the framework governing agricultural land conversion. As per the recent amendment to the Maharashtra Land Revenue Code, 1966 (MLRC), notified on 31 December 2025, and the Government Resolution dated 10 February 2026, the requirement of obtaining a separate sanad or non-agricultural permission from the Collector has been abolished for permissible non-agricultural uses under the Development Plan or Regional Plan under the Maharashtra Regional and Town Planning Act, 1966 (MRTP).

Tenancy rights in a property often lead to litigation and disputes upon the death of a tenant. At the core of most such disputes is the ambiguity around the question of who qualifies as a member...

The Maharashtra Land Revenue Code (Second Amendment) Act, 2026 (L. A. BILL No. XXVIII OF 2026) represents a significant reform in the regulation of government land transactions in Maharashtra. Introduced in the Maharashtra Legislative Assembly on 24th March 2026, it focuses primarily on amending Section 37A of the Maharashtra Land Revenue Code, 1966, a provision that governs the sale, transfer, redevelopment, use of additional Floor Space Index (“FSI”), transfer of Transferable Development Rights (“TDR”), and change in use of government land.

he Urban Land (Ceiling and Regulation) Act, 1976 (ULC) was initially introduced with the aim of promoting an equitable distribution of land. However, this was subsequently...

Compulsory convertible debenture (“CCDs”) occupies a unique and increasingly contentious space in corporate law and allied fields of practice. These instruments are structured to start as debentures as was fundamentally contemplated under in the language of Section 71 of the Companies Act 2013 (“Companies Act”) which treats Debentures as ‘debt’.

The Repealing and Amending Act, 2025 ("Repeal Act") was brought into force on 21 December 2025, pursuant to which, inter alia, Section 213 of the Indian Succession Act, 1925 ("ISA") stands omitted.

The Supreme Court, in KKH Finvest Pvt. Ltd. & Anr. v. Ashiesh Shukla & Ors., 2026 SCC OnLine SC 1498, has reaffirmed an important principle governing the reference of disputes involving non-signatories to arbitration. The Hon’ble Court held that the absence of a signature on an arbitration agreement is not, by itself, determinative of whether a person can be bound by the arbitration agreement.

The Revenue Department of the Government of Maharashtra has recently accorded legal validity to digitally issued land records, including the 7/12 extract, 8A extract, and mutation entries.

Rajesh Exports Limited (“REL”), a Bengaluru-based company incorporated in 1989, built its reputation as a global gold giant and was seen as one of India’s largest gold companies by revenue. REL refined precious metals and exported jewellery worldwide, with its reported revenues placing it among India’s largest listed firms.

As per the Foreign Direct Investment (FDI) policy, 100% overseas investments are permitted in defence industry. Earlier, up to 49% was permitted under automatic route