Between The Lines... January 2022

Key Highlights

I. Supreme Court: In the event of unsuccessful conciliation, arbitration proceedings must mandatorily be resorted to.

II. NCLT: The shareholders are different from lenders.

III. Supreme Court: The Adjudicating Authority and the Appellate Authority can encourage, but cannot compel the parties to settle a dispute under the Insolvency and Bankruptcy Code, 2016.

IV. NCLT: A foreign award is not sufficient to initiate insolvency proceedings against the corporate debtor under the Insolvency and Bankruptcy Code, 2016.

IV. NCLT: A foreign award is not sufficient to initiate insolvency proceedings against the corporate debtor under the Insolvency and Bankruptcy Code, 2016.