NALSAR University of Law

Navigating Legal Complexities: Cross-Border Insolvency in Enterprise Groups – Sanya Arora

Although current cross-border insolvency frameworks implicitly address the considerations, there is room for further development to provide clearer and more comprehensive solutions. However, such developments also pose the risk of introducing a one-size-fits-all solution or unduly prioritizing solutions based solely on cooperation or minimal coordination between multiple proceedings. It is hoped that pragmatic optimal approaches will continue to prevail, even if the frameworks end up appearing restrictive to group solutions by emphasizing cooperation and coordination.

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Navigating Turbulence: Indian Insolvency Regime and the Cape Town Convention in the light of GoFirst Voluntary Insolvency – Harshita Kushwah

Through comprehensive legal analysis and a call for timely legislative action, this article advocates for a seamless convergence of national and international legal principles to secure the future of India’s aviation industry. The paper also mentions towards the end the recent MCA Notification No. SO-4321(E) dated 03.10.2023, exempting aircraft-related transactions from IBC moratorium, which is a pivotal step forward. It demonstrates India’s commitment to aligning domestic laws with international aviation standards, addressing issues highlighted by the Go First case. This move promotes legal clarity and investor confidence, securing India’s aviation industry’s future through harmonization.

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Section 29A(c)- Cause Célèbre of Code – By Mr. Shujat Reyaz Bhat & Mr. Baki Anvesh

The present paper aims to shed some light on the restriction and exception available on persons having NPA and persons related them which is laid down under Section 29A(c) (‘the Section’) by relying on the verbatim of the legislation, judicial pronouncements, reports of Insolvency Law Committees and available commentary.

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