The article aims to transverse into the future and explores the unexplored potential and capability of AI in insolvency laws in all three pre-insolvency, CIRP, and liquidation stages. It looks into the global adoption of AI to strengthen the argument of streamlining the insolvency resolution process through AI.
In this Article, the Author would delve into certain specific hinderances concerning circumstances post the approval of resolution plan and provide suggestions pertaining to the same. First of all, the Author would delve into certain aspects arising pertaining to the Clean Slate theory. Thereafter, the Author would discuss factors/hinderances concerning the withdrawal or modification of resolution plan.
Tackling the Hindrances arising Post Approval of the Resolution Plan – By Sujay Agrawal Read Post »
The IBC was enacted to provide a streamlined and faster process for dealing with the insolvency of individuals and corporate entities. However, it should ensure that personal guarantors don’t miss out on their fundamental rights in the garb of speedy redressal. It is high time that the courts recognize the significance of the role that is played by personal guarantors and vest them with fairness, in line with principles of natural justice. By granting interim relief, the Supreme Court has made its intention clear that the subject of rights of personal guarantors requires further scrutiny. It is left to be seen what the court adjudges, but optimizing the resolution process to accommodate all parties on the same pedestal, is of utmost need.
These are just a few things that buyers should be aware of and each M&A agreement comes with its own set of nuances, issues, and workarounds. The value of having trusted Public M&A advisors to help the parties navigate these complex issues cannot be underestimated.
Guide to Public M&A in India – By Tanveen Kaur Read Post »
As per the data published by IBBI quarterly newsletter Oct-Dec. 2021, an all total of Rs. 32,861.90 crore was admitted as claims and up till December, 2021 only Rs. 4406.76 crore was recovered, i.e., just a mere sum of 13.41% of all admitted claims. It is ironical that the FCs total admitted claims and realised claims were mentioned in the quarterly report, but the same of the OCs couldn’t find a place in the said report. Analysing the data issued by the IBBI, it can be inferred that the operational creditors have been vehemently side-lined by lawmakers and realization of their claims has not been proportionate.
Applicability of Section 14 of IBC to Proceedings in respect of Directors/Management of Corporate Debtor – By Muskaan Desai, 4th
Confidentiality constitutes one of the most important parts of arbitration proceedings. However, it is evident that there are numerous problems in imposing confidentiality obligations. In the initial stages of the development of laws of arbitration, confidentiality was not given much importance, but now an increasing number of legislations have given centrality to this issue. Although the effort by India to protect confidentiality by introducing Section 42A is laudable, it only creates more problems by keeping its language limited.
Importance of Confidentiality in Arbitration – By Bhavy Sharma Read Post »
The article is written with the objective of identifying the possible difficulties in the applications to the Hon’ble NCLT by the GOI for the prejudicial acts of a company contrary to public interest and in light of the provisions of the Code.
The present article provides the background and foreground to the captioned issue of treatment of personal guarantors under the Code, to establish how the Mahendra Jajodia order is another sequel to the series of removal of hurdles from the insolvency process of personal guarantors to corporate debtors, by the Hon’ble Supreme Court.
This paper talks about the legal proposition enunciated by the Hon’ble National Company Law Tribunal and Appellate Tribunal on an aspect of restoration of insolvency petition when no liberty of court was sought at the time of withdrawal of petition.
