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On Day 3 of the 4th Insolvency Law Academy Annual Conference, discussions centred on climate change and insolvency, institutional challenges facing economic law tribunals, the evolving turnaround framework, and contemporary insolvency scholarship.
Taking Day 2 of the 4th Insolvency Law Academy (“ILA”) Annual Conference further, the panellists and guests delved into topics such as cross-border insolvency, future of restructuring, group insolvency, hybrid insolvency, and much more.
Day 2 of the much-awaited 4th ILA Conference brought together eminent voices from India and abroad to examine insolvency law through the lens of entrepreneurship, risk-taking, and the importance of dignified second chances.
Day 1 of the much-awaited 4th ILA Conference featured erudite addresses and insights from leading insolvency experts and distinguished dignitaries on insolvency law and policy, global trends in restructuring, the changing geopolitical landscape, and cinema as a lens and mirror for the economy.
The theme of the 2026 Conference is “Insolvency Law and Policy: Geopolitics and India’s Journey To 2047”.
The appeal challenges the NCLAT’s order upholding a purported lay-off by Resolution Professional, which the appellant claims was a disguised and unlawful retrenchment. The Court is set to examine whether IBC overrides ID Act provisions and whether such retrenchments can legally occur under the garb of lay-offs during insolvency proceedings.
“On the request of the petitioner, the complainant waited and represented the cheque through its banker, but once again it got dishonoured with the same remark – refer to drawer.”
The transaction achieved a recovery of approximately INR 2500 Crores for creditors, including 74.89% for secured financial creditors.
Kapil Wadhawan had executed a joint deed of personal guarantee to secure the credit facilities extended to erstwhile Dewan Housing Finance Corporation Ltd., not exceeding INR. 50,656.84 Crores.
The judgment reaffirmed the principle that entries in a corporate debtor’s balance sheet can constitute an acknowledgment of liability under Section 18 of the Limitation Act, provided they indicate a subsisting jural relationship between the parties, even if the financial creditor is not named explicitly. The Court emphasised that such entries must be interpreted liberally and in context, considering the overall tenor of the balance sheet and the surrounding circumstances.
The CIRP was initiated against the Corporate Debtor vide order dated September 30, 2024, passed by the Hon’ble National Company Law Tribunal, Mumbai Bench.
Cyril Amarchand Mangaldas has advised and represented Nazara Technologies Limited
The Resolution Plan has been approved by 83.46% voting share of the CoC, therefore, at the instance of Appellant, approval of Resolution Plan cannot be allowed to be questioned.”
Enhancing creditor strength through faster debt recovery.
From 03 to 04-04-2025, the International Bar Association corporate and M&A Law Committee at Taj Mahal Palace, Mumbai.
Interviewed by Sidhanth Singh
‘On the complete extinguishment of all tax liabilities of the Corporate Debtor upon the approval of the Resolution Plan, there could be no occasion whatsoever for the IT Commissioner to issue the impugned notice under Section 263 of the Act, seeking to revise the assessment order for the Assessment Year 2020-21.’
Permitting a stay on regulatory penalties under the guise of insolvency proceedings would undermine the very purpose of the CP Act and embolden errant developers to escape liability through insolvency proceedings.
Noting that hypothecation means the process of using an asset as collateral for a loan. It acts as a protection to the lender when the borrower does not repay the loan, the Supreme Court highlighted that the name of the document is not a decisive factor. Only because the title of the document contains the word hypothecation, it cannot be concluded that guarantee is not a part of this document.