India: Financial Restructuring

Narrowing options are what turn an ordinary cash-timing gap into a forced equity surrender. The same tools that could close it early become unavailable, one by one, the longer a company waits. This piece traces that sequence through an Indian alcbev company whose 2026 settlement, covering thousands of crores across lenders, suppliers and statutory authorities, cost the founding family a 17.8% equity stake. The pressure had been building for years before formal negotiations began.

The amendment marks an important shift in India’s restructuring landscape by enabling a wider class of companies to undertake mergers through the Regional Director (“RD”) route, without having to undergo the more elaborate National Company Law Tribunal (“NCLT”) process under Sections 230–232 of the Companies Act.

Argus Partners operates offices in three major Indian cities - Mumbai, New Delhi, and Bengaluru - providing legal services across the country. The firm maintains a professional presence with strategically located offices in key business districts including Nariman Point, Okhla Industrial Area, and Lavelle Road. Contact information and physical addresses are provided for each location to facilitate client communication and engagement.

The Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002, commonly known as the SARFAESI Act...

The Supreme Court has delivered a landmark judgment reinforcing the binding nature of resolution plans approved by the Committee of Creditors under the Insolvency and Bankruptcy Code. This decision addresses whether successful resolution applicants can use procedural technicalities to escape their obligations after securing CoC approval, building upon the precedent established in Ebix Singapore.

On May 21, 2026, the Securities and Exchange Board of India (“SEBI”) issued a consultation paper proposing changes to the existing price discovery framework applicable to Initial Public Offering (“IPO”) and re-listed scrips during the pre-open call auction session on the date of IPO listing or re-listing.

The Bombay High Court has delivered a landmark ruling addressing whether borrowers who forcibly re-enter secured assets after lawful possession has been taken by creditors can seek restoration under the SARFAESI Act.

The SC in the case of S. Rajendran v. CIT[1] held that an attachment Order passed under the Benami Properties Transactions Act, 1988 (‘Benami Act’) cannot be challenged under the IBC.

The National Company Law Appellate Tribunal delivered a landmark ruling on whether credit facilities restructured under RBI guidelines retain their secured status during liquidation proceedings without corresponding modification of charge registration. The judgment addresses the complex interplay between corporate debt restructuring, charge registration requirements under company law, and the insolvency resolution framework, establishing critical precedents for consortium lending practices.