Tag: Insolvency
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Initiation of Insolvency Resolution Process on the Strength of a Money Decree
[Raghav Bhatia is an Advocate practising at the Supreme Court of India] Recently, in Anjani Technoplast Ltd. v. Shubh Gautam (23 April 2026), the Supreme Court examined whether a decree holder can initiate proceedings under section 7 of the Insolvency and Bankruptcy Code, 2016 (“IBC”) on the strength of a money decree in their favour. The author is…
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Judicial Veil Piercing in Insolvency Proceedings: More Questions Than Answers – Part 2
[Umakanth Varottil is a Professor of Corporate Law at the National University of Singapore. Thanks to Raghav Bhatia for alerting the author to the Supreme Court ruling that forms the basis for this post. This is continued from Part 1] The circumstances of the case and the ruling of the Supreme Court in Alpha Corp Development Private Limited…
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Judicial Veil Piercing in Insolvency Proceedings: More Questions Than Answers – Part 1
[Umakanth Varottil is a Professor of Corporate Law at the National University of Singapore. Thanks to Raghav Bhatia for alerting the author to the Supreme Court ruling that forms the basis for this post] Corporate groups, evidenced through a network of holding companies and subsidiaries, are commonplace in Indian business. Such a set up invokes significant…
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Sovereignty Without Foreclosure: Arguing for a Reconciliatory Framework After SBI v. Union of India
[Soumya Dubey is a 3rd year B.A., LL.B. (Hons.) student at National Law University Odisha] Recently, the Supreme Court delivered its judgment in State Bank of India v. Union of India 2026 INSC 153 (13 February 2026) clarifying that spectrum licences allotted to telecom service providers (‘TSPs’) cannot be treated as ‘assets’ within insolvency proceedings. While the judgment…
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Administrative Transfers Within the NCLT: The Supreme Court on the Scope of Presidential Powers
[Shourya Parihar is a 4th year B.A. LL.B. (Hons.) student at Vivekanand Institute of Professional Studies, Guru Gobind Singh Indraprastha University, New Delhi] The Supreme Court has agreed to look into an institutional question concerning the National Company Law Tribunal(NCLT). The issue is narrow, yet its implications are substantial. At its centre lies is the extent of the…
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Resolving Without Deciding: Disputed Assets and Insolvency Jurisdiction After Gloster
[Anamika Singh and Tarun Chittupalli are 3rd year B.A. LL.B. Hons. students at National Law Institute University, Bhopal] In a recent decision in Gloster Limited v. Gloster Cables Limited (22 January 2026), the Supreme Court examined the scope of the National Company Law Tribunal’s (NCLT) jurisdiction under section 60(5) of the Insolvency and Bankruptcy Code, 2016 (IBC). The Court was called…
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The Valuation Paradox: A Structural Critique of the IBC’s Liquidation Floor
[Aayush Gugnani is a Senior Status LLB candidate at Queen Mary, University of London (QMUL) with a Master’s in Economics from the University of Ottawa] The Insolvency and Bankruptcy Code, 2016 (‘IBC’) is normatively anchored in the objective of value maximisation of the corporate debtor’s assets, as repeatedly affirmed by the Supreme Court in decisions such as Swiss Ribbons v. Union of…
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Debtors Without Borders: Navigating India’s IBC 2016 and Foreign Lending
[Varsha S. Banta is an India-qualified lawyer, and Senior Resident Fellow (Corporate Law & Financial Regulation) at the Vidhi Centre for Legal Policy, New Delhi] On August 12, 2025, close to a decade after the enactment of the Indian Insolvency and Bankruptcy Code, 2016 (IBC), the Government of India (GoI) introduced the largest set of amendments through the Insolvency and…
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150 Days to Resolution or Liquidation? The Problems and Possibilities of a Creditor-Initiated Insolvency Resolution Process
[Saksham Agrawal is a third-year B.A., LL.B. (Hons.) student at National Law School of India University, Bangalore] The Insolvency and Bankruptcy Code 2016 (“the Code”) was enacted to consolidate India’s fragmented insolvency framework and shift the philosophy of insolvency from litigation and recovery to collective resolution and value maximisation. Since its enactment, the Code has been…
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Delineating “Speculative Investors” for the IBC: Safeguarding Rights of the Homebuyers
[Karan Latayan is a Professor of Law and Kavya Lalchandani an Assistant Professor of Law, both at Jindal Global Law School] The Insolvency and Bankruptcy Code, 2016 (“IBC”) was introduced almost a decade back with an intent to revive and aid the sick businesses by resolving their financial distress. The design and purpose of the IBC was not…