Tag: Committee of creditors
NCLT stops repayment plan for Essel Group’s INR220bn loan
A five-member bench of the National Company Law Tribunal (NCLT) stays a INR65 million repayment plan as settlement for a INR220 billion loan taken by Essel Group
Suspended v superseded boards under the IBC
Suspension versus supersession: Supreme Court rulings on board participatory rights in IBC financial service provider CIRP cases
Processing changes on the way for insolvency laws in India
India’s president approves the Insolvency and Bankruptcy Code (Amendment) Act, 2026 set to bring in significant regulatory changes
Court clarifies IBC priority is revival
Supreme Court recalled liquidation order in Kalyani Transco v Bhushan Power & Steel, reaffirming IBC’s rescue objective
New RBI directions for novation of OTC derivative contracts
RBI proposes new guidelines for novation of OTC derivative contracts to ensure transparency, consent, and risk transfer
IBBI seeks comments to ensure integrity of CIRP changes
IBBI seeks public input on CIRP changes to boost transparency and eligibility checks
Show all cards at the CIRP table
IBBI mandates full disclosure of avoidance transactions in insolvency cases to ensure transparency and fairness
Supreme Court clarifies classification of debt
India’s Supreme Court ruled that a debtor’s pledge under a DoH is a financial debt under the IBC
No room for one-off settlements post CIRP
Settlements are a key tool in commercial dispute resolution
IBBI allows interim representative for creditors in CIRP
The IBBI amended the 2016 CIRP regulations to allow for interim representation of creditors until an authorized representative is appointed
SAM advises creditors in Educomp’s corporate insolvency resolution
Shardul Amarchand Mangaldas advised the committee of creditors, including Axis Bank, State Bank of India and others, in the corporate insolvency resolution process of Educomp Infrastructure and School Management
Partial sale of assets proposed in insolvencies
In a significant move that would bring major changes to insolvency procedures, the Insolvency and Bankruptcy Board of India (IBBI) has proposed to allow the sale of part assets/businesses of corporates facing such proceedings
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