India: Insolvency/Bankruptcy

Welcome to the latest edition of Fox & Mandal's newsletter highlighting recent developments in India's corporate & commercial laws. In this edition, we examine key aspects of various legal and regulatory changes in the Corporate, Capital Markets, Insolvency, Competition and Real Estate sectors and their impact on the business ecosystem in the country.

The Insolvency and Bankruptcy Code, 2016 (IBC/Code) is a landmark legislation which was enacted in 2016 to put in place a consolidated and holistic legal framework for resolution of stressed assets in India.

The Supreme Court's ruling in Kalyani Transco v. M/s Bhushan Power & Steel Ltd. & Ors. addresses whether procedural irregularities that occur during the Corporate Insolvency Resolution Process are sufficient to undo an approved resolution plan under the Insolvency and Bankruptcy Code, 2016.

As the Insolvency and Bankruptcy Code, 2016 (Code) is on the brink of hitting a decade in operation, we are now seeing the focus of the Insolvency and Bankruptcy Board of India...

In an important decision on the interplay between the Insolvency and Bankruptcy Code, 2016 ("IBC") and the Prevention of Money Laundering Act, 2002 ("PMLA"), the National Company Law Appellate Tribunal, Principal Bench, New Delhi ("NCLAT"), in Mr. Anil Kohli, Resolution Professional for Dunar Foods Limited vs. Directorate of Enforcement and Anr.

The National Company Law Appellate Tribunal ("NCLAT") in its recent judgement of Axis Bank Limited v. Asset Reconstruction Company (India) Limited, [Company Appeal (AT) (Insolvency) No. 1975 of 2024] has held...

The following is a snapshot of the important orders passed by the National Company Law Appellate Tribunal ("NCLAT"), under the Insolvency and Bankruptcy Code...

Our article discusses the recent Supreme Court judgment in the matter of JSW's Steel acquisition of Bhushan Power and Steel Limited which has delivered a significant setback to the Insolvency and Bankruptcy Code, and raised systemic concerns.

The recent decision of the Hon'ble National Company Law Tribunal, Mumbai Bench, in the case concerning Rolta India Limited (Corporate Debtor herein), wherein it upheld the right of the Bank of India (Financial Creditor)...