Tag: Insolvency
-
Mediation under the IBC Framework: A Pragmatic Shift or Premature Experimentation?
[Shashyak Roy is a 1st year student and Arima Kaushal a 3rd year student at West Bengal National University of Juridical Sciences, Kolkata] In November 2024, the Insolvency and Bankruptcy Board of India (IBBI) released a discussion paper proposing the introduction of a voluntary pre-institution mediation mechanism for operational creditors (OCs) before they initiate proceedings under section 9 of the Insolvency and Bankruptcy Code, 2016 (IBC). According to IBBI data,…
-
Appointing Arbitrators Following the Approval of Resolution Plans: Adopting A Pro-IBC Stance
[Udai Yashvir Singh and Aditi Gupta are 5th year students at National Law University Delhi] The principle of clean slate was propounded by the Supreme Court in the seminal case of CoC of Essar Steel India Limited v. Satish Gupta. The principle essentially entails that any claim which is pending before a court or arbitral tribunal or any claim which has…
-
Compulsorily Convertible Debentures: Debt or Equity? Analysing NCLAT’s Ruling
[Raghav Bhatia is an Advocate practising at the Supreme Court of India and High Court of Delhi and Lishika Sahni is a 4th year law student at Dr. RMLNLU, Lucknow]. In December last year, in Indian Renewable Energy Development Agency Limited v. Waaree Energies Limited, the National Company Law Appellate Tribunal (“NCLAT”) observed that compulsorily convertible debentures (“CCDs”) may be debt or…
