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Anush Raajan and Swastika Chakravarti, Lakshmikumaran & Sridharan, Decree holders

Decree holders not financial creditors under IBC

By Anush Raajan and Swastika Chakravarti, Lakshmikumaran & Sridharan
The Insolvency and Bankruptcy Code, 2016 (IBC) was conceived as a solution to the growing problem of non-performing assets. Together with the Reserve Bank of India’s framework for the resolution of stressed assets, the...
S&R promotions include new disputes partner, Shahezad Kazi

S&R promotions include new disputes partner

S&R Associates has promoted disputes counsel Shahezad Kazi to the firm’s partnership. Kazi is the second disputes partner at the firm, along with Niti Dixit, who heads the practice.Kazi is based in Mumbai and...
Aatma Nirbhar Bharat Abhiyaan, Disinvestment

Destination disinvestment?

Selling off public sector enterprises could be the key to strengthening a sluggish economy, writes Subir Bikas Mitra. Will a new privatization drive succeed where earlier attempts have failed? Aatma Nirbhar Bharat Abhiyaan (ANBA), which...
Manoj Kumar and Shweta Bharti, Hammur balance Insolvency and Bankruptcy Code and Prevention of Money Laundering Act abi & Solomon

How to balance the IBC and the PMLA

By Manoj Kumar and Shweta Bharti, Hammurabi & Solomon
The Prevention of Money Laundering Act, 2002 (PMLA) seeks to prevent money laundering, to prosecute those committing money laundering and to recover and seize properties acquired by means of laundered money. However, the effective...
Lalit Kumar J Sagar Associates corporate law company law india

An opportunity lost for corporate law reforms

By Lalit Kumar, J. Sagar Associates
The announcements forming part of the Atma Nirbhar Bharat Abhiyan (Self-Reliant India Mission) were expected to introduce big and bold reforms. Follow-up actions would shore up the ailing Indian economy, which faces an unprecedented...

A tool for financial trouble

Now is a perfect time to introduce a composite code for the resolution of financial service providers, following a series of high-profile incidents in this area, writes Mohit ShuklaEditor’s note: Large banking and financial...

News in Brief

Disputes partner joins IndusLaw IndusLaw has hired Mayank Mishra as a partner in its Delhi office. Mishra joins from J Sagar Associates' dispute practice, where he was a partner and has more than 15 years...

Indian Law Firm Awards 2020

And the winners are ... Rebecca Abraham reports Companies and law firms across India have been grappling with a global pandemic in what was already a challenging market, and are now facing an economic downturn....

Competition and COVID-19: Compliance for businesses

By Deeksha Manchanda and Shruthi Rao, Chandhiok & Mahajan
Competition authorities worldwide including in the UK, the US, Australia and the EU have responded swiftly to the unprecedented situation created by the COVID-19 pandemic. In India, the Competition Commission of India (CCI) has...

Blue sky thinking

The competition regulator has over the years allowed companies to undertake innovative commitments to enable their mergers to go through, writes Soumya Hariharan of Trilegal. In the past nine years, the merger regime in India...

Overlap between insolvency code and arbitration law

By Charanya Lakshmikumaran and Puneeth Ganapathy, Lakshmikumaran & Sridharan
Arbitral awards are treated as orders of a court and can be enforced as such, under the Civil Procedure Code, 1908 (CPC), subject to defences under the Arbitration and Conciliation Act, 1996. The Insolvency...

News In Brief

Real estate partner at HSA HSA Advocates has hired Amaresh Kumar Singh as a partner at the firm’s New Delhi office. Prior to joining HSA, Singh worked at L&L Partners. He has more than 25...

Reverse insolvency to the rescue in housing projects

The National Company Law Appellate Tribunal (NCLAT) in Flat Buyers Association Winter Hills – 77, Gurgaon v Umang Realtech Pvt Ltd & Ors, brought by disaffected flat buyers of the Winter Hills project represented...

Deals of the Year 2019

India Business Law Journal reveals the most significant deals and disputes of 2019 and the law firms that worked tirelessly to bring them to fruition The best transactions for the past year in India came...

Court rules committee of creditors is supreme

By Karthik Somasundram and Shreya Gupta, Bharucha & Partners
Essar Steel India defaulted on repayment obligations to its creditors and in 2017 Standard Chartered Bank (SCB) and State Bank of India filed petitions for financial debt under the Insolvency and Bankruptcy Code, 2016....

The evolving resolution of stressed assets

By Ramya Hariharan and Dipti Srivastava, HSA Advocates
The banking sector has been under tremendous stress in the past few years due to the increasing number of non-performing assets (NPA) caused among other things by the absence of a comprehensive bankruptcy regime....

NBFCs brought under purview of insolvency code

By Anisha Shroff and Sharanya Kundu, Samvad Partners
With the introduction of a codified law on insolvency and bankruptcy processes, restructuring jurisprudence entered a new era. While the new law focused on rehabilitating and restructuring stressed companies, restructuring processes involving financial service...

Pecking order

The significance of the insolvency code may be put into question if state governments do not observe the order of priority for creditors over a corporate debtor’s assets, write Arvind Varma and Amita Chohan “The...

Creditors’ wisdom should be heeded

The verdict of the Supreme Court on 15 November 2019, in the case of Committee of Creditors of Essar Steel India Limited through Authorised Signatory v Satish Kumar Gupta & Ors, has brought clarity...

Courting mediation

The Singapore Mediation Convention offers hope to businesses looking for an alternative to time-consuming litigation in overburdened courts. Amar Sundram reports A recent article headlined “Trust Deficit” in a leading Indian financial newspaper pointed out...