Distinction in Treatment of Financial Creditors vs. Operational Creditors under IBC – By Vidushi Puri

The distinction between financial and operational creditors is crucial under the Code. When both Operational and Financial Creditors are unsecured, it is clearly a matter of discrimination as opposed to differentiation. The ultimate purpose of every creditor, whether financial or operational, is to maximise recovery. The IBC contains no incentive mechanism to encourage such a transition and ensure that financial creditors do not act only in their own self-interest.

Personal Guarantors – Liability beyond Death and Borders : An analysis of the legal position of a guarantor upon death and change of citizenship – By K M Thomas and Ananya Arun

This article attempts to shed light on two such circumstances. The article will talk about the position of a personal guarantor when he attains citizenship in another country. Further, the article addresses whether the legal heirs of a Personal Guarantor can be held liable on the death of the Personal Guarantor

Statutory Omissions of Rights of Debtors under the Indian Contract Act, 1872 in Contra-distinction to the Insolvency and Bankruptcy Code, 2016: A Qualitative Analysis – By Anish Gupta

In this paper, the author looked at the question of whether the Indian Contract Act effectively safeguards the rights of debtors and considering the arguments advanced in Section I of this paper, came to the conclusion that the debtor’s rights are not adequately protected under a contract of guarantee u/s 126 and the sections that follow. This is to say that there is a noteworthy lack of jurisprudence around this matter and thus the rights of debtors remain largely unexplored under the Act.

Lessor as an Operational Creditor – What is the Position under IBC? – By Pratyush Singh

It is in this context that the Hon’ble NCLT Mumbai in Bharat Doshi (2022) ibclaw.in 529 NCLT ruled that debt arising out of rent or lease cannot be considered as Operational Debt under the Code and hence the lessor would not be granted the rights of an operational creditor. There is a conflict in the position of law regarding the treatment of lessors as operational creditors and there is argument to be made from both sides. Hence, a judgment by the Supreme Court in Promila Taneja (2021) ibclaw.in 02 SC would help clarify the position of law on this issue. Till that time, M. Ravindranath [2020] ibclaw.in 95 NCLAT continues to remain the binding precedent on all tribunals.

Resolution Professional : Balancing the Interests of Stakeholders under IBC – By Vrinda Agrawal

Resolution Professional : Balancing the Interests of Stakeholders under IBC Role of Resolution Professional in Balancing the Interests of Stakeholders under the Insolvency and Bankruptcy Code, 2016 Authored by: Vrinda Agrawal,5th year Student of Vivekananda Institute of Professional Studies, Delhi…

Winding Up under the Companies Act and CIRP under IBC: Concerns and Directions for Reform – By Anoushka Goel and Sidharth Sajeev

The research involved in the present paper is Doctrinal in nature, consisting of : (i) An analysis of winding up provisions under the Act and CIRP under the Code to understand overlapping provisions, lacunae and the grey areas that surface. (ii) Review and research on existing literature regarding the concerns and reforms pertaining to insolvency laws in India through the reports issued by the IBBI, ILC etc. (iii) Suggesting reforms in the insolvency laws of India through comparative analysis with insolvency laws in the UK.

Decisional Practice adopted by the Tribunals and Constitutional Courts while condoning delay under IBC – By Raunak Sood and Prajjwal Bangani

The current research article is being made to make a comprehensive analysis on the emerging judicial trends after the insertion of Section 238A in the Code. The article shall primarily focus on the decisional practice of the NCLT, NCLAT, High Court and Supreme Court when it comes to application of condonation of delay and the connected question of law which the tribunals, and appellate court have dealt with.

Position of Guarantors under IBC: A Quandary Untouched – By Rishika Sharma and Samarth Kapoor

The present article deals with the practical problems that exist currently with regards to the simultaneous proceedings against the debtor and the guarantor and the right to subrogation of the guarantor under IBC. Further, the article will take into consideration the situation under which the Guarantor will stand discharged from his/its liability and will later conclude on the suggestion to revisit the existing regime with regards to the Guarantors under insolvency law prevailing in India.