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In a recent order admitting a petition for insolvency resolution filed by Essar Projects India Limited (Operational Creditor) against MCL Global Steel Private Limited (Corporate Debtor), ...

The upper house of Parliament (the Rajya Sabha) passed the Insolvency and Bankruptcy Code 2016 on May 11 2016. The code was previously passed by the lower house of Parliament (the Lok Sabha) on May 5 2016.

The Insolvency and Bankruptcy Board of India signed a Memorandum of Understanding with the Reserve Bank of India on March 12, 2018. he purpose of the MoU is to assist and cooperate with each other for effective implementation of the Insolvency and Bankruptcy Code, 2016.

The amendment aims at streamlining issues of troubled companies, protect corporate debtors and prevent unnecessary revocation of insolvency proceedings under the IBC.

The application of the provisions of the Limitation Act, 1963 ("Limitation Act") to the Insolvency and Bankruptcy Code, 2016 ("Code") has been an area of concern for creditors in India.

In a significant development for creditors operating within India's financial ecosystem, National e-Servicing Limited (NeSL), a designated Information Utility (IU) under the Insolvency and Bankruptcy...

The Insolvency and Bankruptcy Board of India (IBBI) has recently issued a set of guidelines aimed at streamlining the appointment process for Insolvency Professionals (IPs)...

In the present matter, the date of default for the debt availed by the Corporate Debtor (“CD”) from Dewan Housing Finance Limited (“DHFL”) was 06.12.2016. However, DHFL itself was admitted into CIRP on 03.12.2019.

In a welcome move, the Hon'ble Supreme Court, in its Order dated 29th October 2020 in Transfer Petition (Civil) No. (s). 1034 of 2020 ("Transfer Petition"), directed transfer of all writ petitions...

The rationale was that apparently, the bankers had exhausted all other options to recover their dues.

The Honorable Supreme Court of India on September 19, 2017 affirmed the order passed by the National Company Law Appellate Tribunal "NCLAT" in the case of Surendra Trading Company v. Juggilal Kamlapat Jute Mills ...

The treatment and position of statutory creditors having a statutory charge in insolvency proceedings gained criticality at the first instance upon passing of the judgment by the Hon'ble Supreme Court...

The banking sector has been under tremendous stress in the past few years due to the increasing number of non-performing assets (NPA)...

The Insolvency and Bankruptcy Board of India (IBBI) has recently introduced the Fourth Amendment Regulations to the Insolvency Resolution Process for Corporate Persons.

In the backdrop of Vijay Mallya episode and season of corporate defaults when public sector banks and financial institutions are helplessly chasing their dues in largely protracted legal battles...

The Supreme Court of India recently dealt with a significant issue concerning the Insolvency and Bankruptcy Code, 2016 (IBC) in the case of VISA Coke Limited versus M/S MESCO...

According to the World Bank Report of Doing Business, the insolvency resolution process in India is complex, time consuming and expensive due to presence of multiple laws.