In this article: (i) advent of mediation as a Dispute Resolution Mechanism in India, (ii) the framework of mediation under the Code as suggested by the Expert Committee, and (iii) dissect the framework as considered and discussed under the Report[3] in light of the groundbreaking Mediation Act, 2023.
In this article, the authors’ discuss as to whether the investment in a Joint Venture can be considered to be a Financial Debt or Operational Debt within the meaning of Section 5(8) and 5(21) of the IBC and further delve into the cases in this regard.
Can the landlord say or raise a plea before NCLT as there exists a pre-existing dispute, proceedings before the NCLT should not hamper the eviction proceeding pending in the Small Causes Court and hearing of eviction suit should not be stayed as stated under Section 14 of the Code. Can it even be said that provisions of the Code cannot prevail over the Rent Act.
This article is an attempt to examine the issue of admission of an insolvency petition where arbitration proceedings are pending/ongoing and the vice versa appointment of an Arbitrator (or the initiation of Arbitration proceedings) during the stage of pendency of an Insolvency Petition, in the light of the analysis of recent judgments and Orders.
This blog explores the evolution and application of the doctrine of substantial consolidation in the context of real estate insolvency, examining key cases and the potential it holds for streamlining the insolvency process and safeguarding stakeholders’ interests.
Through a catena of the orders, the tribunals have made it clear that the inherent jurisdiction of the Adjudicating Authority may be invoked to seek revival of the withdrawn insolvency proceeding in case of non-adherence to the settlement agreement. In a nutshell, the only prerequisite to be fulfilled for the revival of CIRP proceedings is either the NCLT has granted the liberty to seek the revival or if the settlement agreement itself permits the revival of CIRP proceedings in case of default, provided that the same has been brought on record of the NCLT while withdrawal of the insolvency proceeding.
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.
This article delves into the evolving landscape of interest on operational debt within the purview of the IBC, examining notable cases and NCLAT pronouncements that have shaped the prevailing consensus on this matter. It also explores instances where statutory requirements mandate interest imposition and the response of tribunals to such claims. Additionally, the article addresses the intriguing question of whether interest can be combined with the principal amount of debt to surpass the INR 1 crore threshold for initiating insolvency proceedings under Section 9 of the code.
Understanding Interest on Operational Debt in IBC: NCLAT’s Perspective – Divyanshi Yadav Read Post »
With this article, the author aims to analyse the approach of the Adjudicating Authority and the appellate forums in determining the minimum amount to be paid to the secured Dissenting Financial Creditors, the issues involved with their reasoning, and suggest an approach synchronous to the spirit of the Code.
This article provides an overview of the significance of mediation in India, particularly in the context of the IBC. It highlights the adoption of the Mediation Bill 2021, to promote accessible and popular mediation practices. The Singapore Convention on Mediation and its benefits for enforcing settlement agreements globally are discussed. The successful incorporation of mediation in insolvency processes in the United States of America, the United Kingdom, the European Union, Japan, Singapore, and Australia offers valuable insights for India. The article also emphasizes the need for effective measures to address delays in the application of the CIRP and the importance of voluntary participation in mediation. It also highlights the importance of formalizing mediation within the IBC and addressing challenges related to pre-litigation mediation, exceptional circumstances, international mediation, and the modification of moratorium provisions. Overall, mediation is recognized as a valuable tool for efficient dispute resolution and stakeholder protection in insolvency cases.
