User: whoisoncaveat Topic: Insolvency Blog
Category: Insolvency Blog
Last updated: Aug 07 2020 19:26 IST RSS 2.0
 
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India: NCLAT: Termination Of A PPA During Subsistence Of Moratorium Is In Violation Of The IBC - Khaitan & Co 7.8.2020 Mondaq.Com - feed of articles on Insolvency/Bankruptcy/Re-structuring from India
On 24 July 2020, the National Company Law Appellate Tribunal (NCLAT), in its decision in GRIDCO Limited v Surya Kanta Sathapathy and Others [C.A. (AT) (Insolvency) 1271 of 2019] ...
India: Circulars/Notifications Issued By IBBI – July 2020 - Singh & Associates 6.8.2020 Mondaq.Com - feed of articles on Insolvency/Bankruptcy/Re-structuring from India
An Ordinance was passed on 5th June 2020, by the President of India in furtherance to the announcement earlier made by Hon'ble Finance Ministry w.r.t suspension of Fresh cases to be filed under Section 7, 9 and 10 ...
India: Circulars Issued By Other Authorities – July 2020 - Singh & Associates 6.8.2020 Mondaq.Com - feed of articles on Insolvency/Bankruptcy/Re-structuring from India
The Ministry of Finance vide its Notification No. 11/2020 – Central Tax dated 21.03.2020 stated that those Registered persons who are undergoing the corporate insolvency resolution process under the provisions of the ...
India: Suspension Of The Insolvency Proceedings In India: An Overview - Clasis Law 5.8.2020 Mondaq.Com - feed of articles on Insolvency/Bankruptcy/Re-structuring from India
On 5th June, 2020, the President of India promulgated the much awaited ordinance, the Insolvency and Bankruptcy Code (Amendment) Ordinance, 2020 ("Ordinance"),...
India: Clarity For Third Party Assets In Indian Insolvency – Clarity For Securitisation? - ZBA 5.8.2020 Mondaq.Com - feed of articles on Insolvency/Bankruptcy from India
This article summarizes the impact of the FSP Third Party Assets Notification on securitisation or direct assignment transactions where an assignor acts as servicer or collection agent for assigned receivables.
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India: The Next Wave – Personal Guarantors Under The Insolvency And Bankruptcy Code, 2016 - ZBA 5.8.2020 Mondaq.Com - feed of articles on Insolvency/Bankruptcy from India
The insolvency process can be triggered either by a Personal Guarantor itself or by any creditor.
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India: Insolvency And Bankruptcy Code (Amendment) Ordinance, 2020: Is It A Step In The Right Direction Amidst COVID-19? - Singh & Associates 4.8.2020 Mondaq.Com - feed of articles on Insolvency/Bankruptcy/Re-structuring from India
The spread of Coronavirus (COVID-19) pandemic across the globe followed by subsequent lockdowns has adversely affected business operations across the world.
India: Operational Creditors In Insolvency: A Tale Of Disenfranchisement - S&R Associates 3.8.2020 Mondaq.Com - feed of articles on Insolvency/Bankruptcy from India
The Insolvency and Bankruptcy Code, 2016 (hereinafter "IBC") was hailed as a major reform in the insolvency landscape in India
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Corporate Restructuring in India: The Cross-Class Cramdown Provision 1.8.2020 Insolvency – IndiaCorpLaw

[Aastha Agarwalla is a final year law student at Campus Law Centre. Faculty of Law, University of Delhi] The United Kingdom (UK) recently enacted a much-awaited economic legislation, the Corporate Insolvency and Governance Act 2020 (CIGA). The CIGA introduces sweeping reforms, including a cross-class cramdown provision (CCDP), in the restructuring legal framework. The cramdown mechanism, […]

The post Corporate Restructuring in India: The Cross-Class Cramdown Provision appeared first on IndiaCorpLaw.

Valuation of Assets under the Code: Holding the Provisions Against the Preamble of the Code 30.7.2020 insolvency and bankruptcy code – SCC Blog

by Puru Varma†

The post Valuation of Assets under the Code: Holding the Provisions Against the Preamble of the Code appeared first on SCC Blog.

To Enforce or to Relinquish – The Predicament of Joint Charge Holders under IBC 28.7.2020 irccl
[Harshil is a student at Symbiosis Law School.]In a recent decision of the National Company Law Appellate Tribunal (NCLAT) in Mr Srikanth Dwarakanath, Liquidator of Surana Power Limited v Bharat Heavy Electricals Limited, the tribunal applied provisions of Securitisation and Reconstruction of Financial Assets and Enforcement of Securities Interest Act 2002 (SARFAESI Act) to resolve a deadlock within Section 52 of the Insolvency and Bankruptcy Code 2016 (IBC). Here, I shall argue that the
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Suspension of CIRP during Covid-19: A Boon or a Bane? 28.7.2020 Insolvency – IndiaCorpLaw

[Megha Khandelwal and Ananya Ghosh are 4th Year B.A. LL.B. (Hons.) students at the National Law School of India University, Bangalore.] The Covid-19 pandemic and its consequential lockdown has resulted in an economic ripple effect on businesses all across the globe. To mitigate its impact, governments of various countries have amended their respective insolvency laws […]

The post Suspension of CIRP during Covid-19: A Boon or a Bane? appeared first on IndiaCorpLaw.

India: Limitation Period Under The Insolvency And Bankruptcy Code- Concern For Creditors? - ZBA 27.7.2020 Mondaq.Com - feed of articles on Insolvency/Bankruptcy/Re-structuring from India
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.
NCLAT’s Ruling in the Surana Liquidation Case: An Analysis 26.7.2020 Insolvency – IndiaCorpLaw

[Shreya Dagar is a 3rd year B.A. LL.B. (Hons.) student at National Law University Jodhpur] The National Company Law Appellate Tribunal (“NCLAT”) on 18 June 2020 decided in favour of the liquidator in Srikanth Dwarakanath v. Bharat Heavy Electricals Limited (BHEL). The case dealt with the liquidation of Surana Power Limited (“SPL”). The tribunal imported […]

The post NCLAT’s Ruling in the Surana Liquidation Case: An Analysis appeared first on IndiaCorpLaw.

Srikanth Dwarkanath v Surana Power Limited: NCLAT’s Idea of Majoritarianism 25.7.2020 irccl
[Keshav is a student at Gujarat National Law University.]The National Company Law Tribunal (NCLT) Chennai directed the liquidation of Surana Power Limited by an order dated 28 January 2019. The dispute arose over certain equipment and goods (Secured Assets) which were hypothecated to secured creditors amounting to 73.76% of the outstanding debt by a hypothecated deed dated 24 September 2010. Additionally, the respondent i.e. Bharat Heavy Electricals Limited (BHEL), by an arbitral award dated 24
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The Dilemma of Jurisdiction under Arbitration and Insolvency: Another Trolley Problem? – Part II 25.7.2020 Arbitration – IndiaCorpLaw

[Kartikey Sanjeev Bhalotia and Arshit Kapoor are 2nd year students at National Law University Odisha] In lieu of the conclusion in the previous post, the authors opine that in a case where there exists an arbitrable dispute between the parties, the admission of an application under section 7 of the IBC can undermine the sanctity […]

The post The Dilemma of Jurisdiction under Arbitration and Insolvency: Another Trolley Problem? – Part II appeared first on IndiaCorpLaw.

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Suspension of IBC: A Confounding Endeavour? 24.7.2020 irccl
[Dharmi is a student at NMIMS School of Law, Mumbai.]On 5 June 2020, in the wake of the COVID-19 pandemic and the subsequent lockdown and with an aim of shielding businesses from being pushed into insolvency proceedings, the much-awaited ordinance suspending initiation of corporate insolvency resolution process (CIRP) was promulgated. The Insolvency and Bankruptcy Code (Amendment) Ordinance 2020 (Ordinance) inserted Section 10A to the Insolvency and Bankruptcy Code 2016 (Code) that prohibits
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The Dilemma of Jurisdiction under Arbitration and Insolvency: Another Trolley Problem? – Part I 24.7.2020 Insolvency – IndiaCorpLaw

[Kartikey Sanjeev Bhalotia and Arshit Kapoor are 2nd year students at National Law University Odisha] Though the Arbitration and Conciliation Act, 1996 (‘Arbitration Act’) and the Insolvency and Bankruptcy Code, 2016 (‘IBC’) pertain to different subject areas, various adjudicating authorities in India have started facing a very important question arising out of the interplay between […]

The post The Dilemma of Jurisdiction under Arbitration and Insolvency: Another Trolley Problem? – Part I appeared first on IndiaCorpLaw.

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The Adjudication of Disputed Claims Under the IBC: A Lacuna Left Unattended? 23.7.2020 Insolvency – IndiaCorpLaw

[Preksha Mehndiratta and Anchit Jasuja are 2nd year law students at Gujarat National Law University] The development of the clean slate approach in Committee of Creditors of Essar Steel India Limited v. Satish Kumar Gupta & Ors. has the effect of discharging the corporate debtor of all undecided claims including those claims which are disputed. Thus, […]

The post The Adjudication of Disputed Claims Under the IBC: A Lacuna Left Unattended? appeared first on IndiaCorpLaw.

India: IBC (Amendment) Ordinance: The Cat Is Out Of The Bag! - Rajani Associates 22.7.2020 Mondaq.Com - feed of articles on Insolvency/Bankruptcy/Re-structuring from India
In order to prevent companies to be dragged into insolvency under the Insolvency and Bankruptcy Code, 2016 ("Code") due to the present pandemic,…
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