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Khaitan & Co and Cyril Amarchand Mangaldas advise on IL&FS waste management sale

Khaitan and CAM advise on IL&FS waste management sale

Khaitan & Co advised EverEnviro Resource Management when it acquired the entire waste management business of Infrastructure Leasing and Financial Services (IL&FS), consisting of IL&FS Environmental Infrastructure & Services (IEISL), along with its subsidiaries...
Secured creditors not always financial creditors, Karthik Somasundram and Sneha Jaisingh, Bharucha & Partners

Secured creditors not always financial creditors

By Karthik Somasundram, Sneha Jaisingh and Alabh Lal, Bharucha & Partners
In Phoenix Arc Pvt Ltd v Ketulbhai Ramubhai Patel, the issue before the Supreme Court was whether a person holding a security interest over the assets of a corporate debtor in respect of the...
Indian-Law-Firm-Awards-2021-logo

Indian Law Firm Awards 2021

Vandana Chatlani reports India has faced a terrible year battling the covid-19 pandemic. Companies and law firm offices shut shop. Homes were turned into work spaces, and lawyers relied on technology to stay connected. Investments in...
India Business Law Journal

Relying on specialists

Debate on wisdom of specialised courts returns It is no surprise that the recent scrapping of the Intellectual Property Appellate Board (IPAB) – a tribunal that decided on appeals from the patent and trademark office,...
NCLT proper forum for power purchase agreement insolvency, Abhishek Tripathi and Vedant Kumar, Sarthak Advocates & Solicitors

NCLT proper forum for power purchase agreement insolvency

By Abhishek Tripathi and Vedant Kumar, Sarthak Advocates & Solicitors
The Supreme Court has ruled that the National Company Law Tribunal (NCLT) has jurisdiction under the Insolvency and Bankruptcy Code, 2016 (IBC) in disputes involving Power Purchase Agreements (PPA). Gujarat Urja Vikas Nigam Limited...
Guarantees will now better ensure payment of debts, Aditya Vikram Dua and Aniket Sawant, SNG & Partners

Guarantees will ensure better payment of debts for now

By Aditya Vikram Dua and Aniket Sawant, SNG & Partners
It is a common practice for lenders to obtain guarantees for securing financial assistance granted to a borrower entity. The guarantor’s liability crystallises as soon as the borrower defaults on the debt. However, the...
IBC decides the fate of PPAs in insolvency, Abhirup Dasgupta and Bhawana Sharma, HSA Advocates

IBC decides the fate of PPAs in insolvency

By Abhirup Dasgupta and Bhawana Sharma, HSA Advocates
A power purchase agreement (PPA) is essential not only for the way a power project functions, but also for its very existence. There has, however, been significant uncertainty regarding the status of power generators...
Related party exclusion cannot be avoided through divestment 

Related party exclusion cannot be avoided through divestment 

Financial creditors that cease to be related parties in order to circumvent the exclusion under the Insolvency and Bankruptcy Code, 2016, should also be considered as being covered by the exclusion, according to a...
Pledging shares does not create a financial creditor, Shweta Bharti and Nitesh Sachdeva, Hammurabi & Solomon_

Pledging shares does not create a financial creditor

By Shweta Bharti and Nitesh Sachdeva, Hammurabi & Solomon
In Phoenix Arc Pvt Ltd v Ketulbhai Ramubhai Patel, the Supreme Court held that a creditor cannot be a financial creditor on the basis of a pledge agreement unless that agreement contains an undertaking...
The committee of creditors and its commercial wisdom, Sonam Gupta, Sneha Jaisingh and Divyam Sharma, Bharucha & Partners

The committee of creditors and its commercial wisdom

By Sonam Gupta, Sneha Jaisingh and Divyam Sharma, Bharucha & Partners
The Insolvency and Bankruptcy Code, 2016 (code) was enacted to enable corporate insolvency resolution of financially stressed corporate debtors in a time bound manner, so as to maximise the value of their assets. The...
Manchanda joins partnership at Chandhiok

Manchanda joins partnership at Chandhiok

Deeksha Manchanda has been inducted into the partnership of Chandhiok & Mahajan. Previously a counsel at the firm working in the competition and regulatory practice areas, Manchanda specializes in advising clients on all aspects of...
DSK advises Dighi Port on successful insolvency resolution

DSK advises Dighi Port on successful insolvency resolution

DSK Legal advised the resolution professional of Dighi Port on its corporate insolvency resolution process, a result of which was the port’s acquisition by Adani Ports and Special Economic Zone for ₹7.05 billion (US$97.3...

Future legal leaders

India Business Law Journal reveals 50 up-and-coming lawyers who are making a name for themselves in the profession Access The List In a year where leadership has never been a more crucial quality, India Business Law...
India law firms- deals of the year 2020

Deals of the Year

India Business Law Journal reveals the most significant deals and disputes of 2020 and the law firms that worked tirelessly in bringing them to fruition. By Rebecca Abraham The year gone by has been unlike...
What the 2021 budget holds for business, Manoj Kumar, Hammurabi & Solomon

What the 2021 budget holds for business

By Manoj Kumar, Hammurabi & Solomon
The budget for 2021-22, which was unveiled on 1 February 2021, impacts a number of commercial sectors. In the corporate field, small companies are now defined as companies with paid up capital of ₹20 million...
_SC-expands-role-of-informant-under-Competition-Law-

SC expands role of informant under Competition Law 

In a noteworthy judgment pronounced by the Supreme Court, the locus standi (right or capacity to bring an action or to appear in a court) of a person as an informant in matters pertaining...
Keeping the power on during insolvency, Abhishek Nath Tripathi and Vedant Kumar

Keeping the power on during insolvency

By Abhishek Nath Tripathi and Vedant Kumar, Sarthak Advocates & Solicitors
The National Company Law Appellate Tribunal (NCLAT) in Gujarat Urja Vikas Nigam Ltd (GUVNL) v Yes Bank Limited recently confirmed a National Company Law Tribunal (NCLT) decision restraining GUVNL from terminating the power purchase...
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...