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The amendments to the IBC have made an attempt to ensure that only viable resolution plans from credible sources are accepted.

Section 238 of Insolvency and Bankruptcy Code, 2016 ("IBC") overrides the provisions of the Electricity Act and that the dues payable to secured creditors are at a higher footing than the dues...

The Bank on September 3, 2018 filed an application to recover USD 52.5 million from Ruchi Soya Industries Limited.

The Reserve Bank of India ("RBI") has, in its capacity as the regulator of non-banking financial companies and under the powers conferred to it pursuant to Section 45-IE (1) of the Reserve Bank of India Act, 1934 ("RBI Act"), superseded the Board of Directors of SIFL and SEFL.

In a judgment with far reaching consequences in Brilliant Alloys Private Limited Vs. Mr. S. Rajagopal & Ors, a bench of the Supreme Court consisting of Mr. J Rohinton Fali Nariman and Mr. J Navin Sinha

Out of these, 300 homebuyers attend a meeting of the CoC and 270 of such homebuyers, vote in favour of a particular agenda.

This update briefly summarises the important amendments introduced by the Ordinance in line with its objectives.

The Supreme Court in Committee of Creditors of Essar India Steel Limited v. Satish Kumar Gupta & Ors. ("Essar Steel-SC") ruled that all claims must be submitted and decided by the resolution...

Real Estate (Regulation and Development) Act, 2016 (Act) was enacted in order to effectively respond to a host of systemic issues in the real estate sector and balance the interest of ...

This suggests that appropriate changes will be made in the upcoming budget to be presented on 1 February.

The GST Council during its 39th meeting, held on 14 March 2020, decided that a special procedure should be prescribed for corporate debtors undergoing the corporate insolvency resolution process under the provisions IBC ...

The Clean Slate Doctrine is a key legal principle embedded in the Insolvency and Bankruptcy Code, 2016 ("IBC"), which plays a pivotal role in the corporate insolvency process in India.

In the case of Iskon Infra Engineering Private Limited vs. Central Bank of India18, the National Company Law Appellate Tribunal rejected the dissolution of a company undergoing voluntary liquidation on the ground that such a Company had extended corporate guarantees of substantial amounts for a principal borrower.

In State Bank of India v Moser Baer Karamchari Union [Company Appeal (AT) (Insolvency) Number 396 of 2019] (Moser Baer), the National Company Law Appellate Tribunal, New Delhi (NCLAT), ...

In October 2021, the Reserve Bank of India (RBI) released a scale-based regulatory framework for non-banking financial companies (NBFC) to tackle systemic risks posed by the sector.

The Supreme Court has held that §238 of the Insolvency and Bankruptcy Act 2016 (IBC) overrides the provisions of the Electricity Act 2003 and has held that government debts and operational debts...

The world economy has been confronted by unprecedented challenges due to Covid-19. RBI and Central Government of India have announced a slew of measures to minimise the impact of Covid-19 on financial markets so as to provide liquidity to borrowers.