This piece aims to examine the practical consequences of leaving the concept of “treatment” undefined and proposes reforms that may help give substantive effect to the protection contemplated under Regulation 38A.

The March 2026 Amendments can be best understood as a refinement of lock-in regulations rather than a reform of pledge law.

The IBBI has, in the deferred commencement window, a rare opportunity to get this right before a single CIIRP is filed.

The nil valuation of contingent claims under the IBC is operationally convenient, judicially endorsed, and now sits atop a firm statutory footing after the 2026 Amendment, but it remains unjustified in its current form.

Real systemic growth occurs when fairness is not compromised to achieve commercial speed.

The IBC was never meant to be a code of private enforcement. It is a statute of public restructuring, where creditor control is legitimate because it is bound by statute and under adjudicatory supervision. CIIRP diminishes the first moment of that supervision and must therefore heighten the requirements of notice and objection rights.

The IBBI has realized the value of market-driven resolution which it has effectively pivoted towards. The timing of the notification of these amendments must also be appreciated. India is notoriously a slow insolvency jurisdiction, and such perceptions can seriously damage credit availability in markets.

The authors of this article have argued that clarificatory amendments do not deserve the sharp criticism that they receive.

This article discusses AIF amendment regulations and their implications and makes suggestions that could better tackle the practical issues.

Authors remark that the Specific Relief (Amendment) Act 2018 created issues in terms of its application due to ambiguous drafting.

This article seeks to analyse the ambit of Section 26 and the implications of the judgment of Ellora Paper Mills in this regard.

The author sees the amendment to the LLP Act as encouraging entrepreneurs and other professionals to consider forming LLPs.