Centre for Insolvency and Bankruptcy Studies

Recent Posts

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  Rising Haircuts: A Death Knell for IBCApril 20, 2022
  Priyanshi Jain & Simran Lunagariya Introduction  A competent insolvency procedure assists creditors and Corporate Debtors (“CD”) in recognizing whether the stressed company is approaching financial collapse and finding an amicable solution for the same. To this end, it is important that the insolvency procedure is prompt, efficient, and impartial. In the Indian setting, the Insolvency and Bankruptcy Code, 2016 (“IBC”) is still attempting to achieve harmony between the aforementioned features, especially securing good recovery rates.  Huge haircuts have been observed in
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  THE SAGA OF CROSS-BORDER INSOLVENCY FRAMEWORK AND FOREIGN INVESTMENT IN INDIAApril 4, 2022
  Prakriti Singh INTRODUCTION The Insolvency and Bankruptcy Code, 2016 (the Code), the first consolidated and comprehensive legal framework enacted in India to regulate insolvency and bankruptcy proceedings had brought rules which were hitherto alien to the realm of Indian Insolvency. The flexibility of the Code, the emphasis on business reforms and the expeditious resolution mechanisms did present avenues for foreign investors. However, in the absence of a standardized cross border insolvency framework, there is a skepticism among the foreign investors
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  Examining the Law on Withdrawal of Resolution Plans under The Insolvency and Bankruptcy Code, 2016March 6, 2022
  Sourav Paul Introduction On 13th September 2021, the Supreme Court of India (‘SC’) in Ebix Singapore Pvt. Ltd. v. Committee of Creditors of Educomp Solutions Ltd. and Anr. (‘Ebix Singapore’), settled the law on the withdrawal of a Resolution Plan under the Insolvency and Bankruptcy Code, 2016 (‘Code’). The SC noted that there is no provision under the Code that allows for the modification or withdrawal of a resolution plan upon the request of a successful resolution applicant, provided it
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  Withdrawal of Resolution Plan: Reaffirming the Primacy of CoC vis-à-vis the EBIX caseMarch 3, 2022
  Ayush Raj INTRODUCTION In a landmark judgment in the case of Ebix Singapore Pvt. Ltd. v. Community of Creditors of Educomp Solutions Limited & Ors., (hereinafter “the Case”),the Supreme Court has cleared the dust surrounding the withdrawal of the Resolution Plan (hereinafter “RP”) submitted by Resolution Applicant (hereinafter “RA”) after getting the requisite approval and validity by the Committee of Creditors (hereinafter “CoC”) as stipulated u/s 30(4) of the Insolvency and Bankruptcy Code, 2016 (hereinafter “the Code”). The RP is