In this article, the author identifies two major challenges revealed by the impugned judgments: lack of a statutory time limit to implement resolution plans and imprecise role of monitoring committees in ensuring implementation of resolution plans.

The reverse CIRP model remains judicially constructed and lacks a statutory base. The reforms provide structure and direction but require legislative harmonization to fully stabilize the process.

It is argued that the SC could have explored other possible remedies, such as sending the resolution plan back to CoC to remedy the non-compliances and imposing penalties on responsible entities.

Embracing a similar test in the IBC would avert unjust denial of valid financial claims dressed only as penalties. It would further strengthen creditor participation in the committee of creditors, allowing more balanced participation in the collective settlement process.

While the BPSL-JSW is already forming into a landmark precedent in the IBC landscape, it risks creating a precedent, which undermines the revival aspect of IBC and has the possibility of deterring future CIRP proceedings.

The Kalyani Transco judgement has highlighted certain inefficiencies in the Code, calling for a revaluation of its provisions.

The insolvency framework for individuals, sole proprietors, and partnership firms in India is at a transformative juncture.

A regulatory shift is needed. ‘Super-priority utility claims’ would introduce vital services protection, and balance would be maintained through a tiered debt resolution system. A non-retroactivity clause can protect resolution applicants from post settlement litigation. Moreover, a strategically funded PCLF would guard against unforeseen claims and improve CIRP performance.

As the IBC framework continues to evolve, successful distressed M&A will require specialized expertise, innovative structuring, and careful navigation of the unique legal complexities that characterize acquisitions under CIRP.

The NCLT’s decision reaffirms the principle that a clear distinction must be maintained between the provision of IBC and PMLA.

The article challenges the ruling in Independent Sugar by examining the statutory provisions and the judicial approach to the issue.

The authors conclude that the dictum is prone to irony and contradicts the objectives of the IBC.

The peculiar scenario of the demise of the PG presents various challenges and opportunities for the legislature.

The article suggests some alternatives to green channel mechanism that would expedite the CIRP.

The recent amendment to the Liquidation Regulations has introduced a measure of certainty and clarity for homebuyers.

The ruling in this case has provided clarity on the intersection of guarantee contracts and insolvency and bankruptcy laws.

The selective applicability of the provisions of Section 14 to only domestic-seated arbitrations results in several complexities.

[Zoya and Digvijay are students at National Law University Odisha.] Unprecedented temperatures, pernicious hurricanes and melting...

Prioritizing environmental claims during bankruptcy proceedings could diminish a company's overall value, thus needing express provisions.

The SC in Sutanu Sinha chose from the diverging set of views on the nature of CCDs and their treatment under the IBC.

This post outlines the real estate sector’s importance and elucidates the concept of project-wise corporate insolvency resolution process.

Inviting resolution plans and, after analyzing the same, approaching liquidation would, in the author’s view, amount to commercial wisdom.

The post discusses the employment of the conjunctive test for preservation of the claims of genuine stakeholders within the COC.

By upholding appellants’ status as being part of a class of creditors, Supreme Court has managed to preserve the sanctity of 2018 amendment.