Articles and Updates

• Sawant Singh and Neha Naik and Madhavi Doshi - 21-01-2020

After a battle that lasted approximately 900 days, the Supreme Court of India in the case of Committee of Creditors of Essar Steel India Limited through Authorised Signatory v. Satish Kumar Gupta, paved the way for ArcelorMittal to take over Essar Steel Ltd.('Essar') by upholding the primacy of the Committee of Creditors ('CoC') in distribution of funds of INR 42,000 crore received under the resolution plan submitted by ArcelorMittal.

• Sawant Singh and Neha Naik and Madhavi Doshi - 21-01-2020

After a battle that lasted approximately 900 days, the Supreme Court of India in the case of Committee of Creditors of Essar Steel India Limited through Authorised Signatory v. Satish Kumar Gupta, paved the way for ArcelorMittal to take over Essar Steel Ltd.('Essar') by upholding the primacy of the Committee of Creditors ('CoC') in distribution of funds of INR 42,000 crore received under the resolution plan submitted by ArcelorMittal.

• Vasanth Rajasekaran and Shweta Vashist - 14-01-2020

Liability Of The Corporate Debtor And Resolution Applicant For Offences Committed Prior To The Corporate Insolvency Resolution Process

• - 14-01-2020

The Union Cabinet, on December 24,2019 approved the proposal to promulgate the Insolvency and Bankruptcy Code (Amendment) Ordinance, 2019 (Ordinance) to amend the Insolvency and Bankruptcy Code, 2016 (Code). Introduced to further ease of doing business in India, the Ordinance seeks to clarify various issues and streamline the insolvency resolution process. One of the significant changes pertains to the insertion of Section 32A to the Code (Section 32A), by way of which successful resolution applicants will be ring-fenced from the threat of criminal proceedings for offences committed by the former promoters of the corporate debtor.

• Vasanth Rajasekaran and Shweta Vashist - 14-01-2020

The Union Cabinet, on December 24,2019 approved the proposal to promulgate the Insolvency and Bankruptcy Code (Amendment) Ordinance, 2019 (Ordinance) to amend the Insolvency and Bankruptcy Code, 2016 (Code). Introduced to further ease of doing business in India, the Ordinance seeks to clarify various issues and streamline the insolvency resolution process. One of the significant changes pertains to the insertion of Section 32A to the Code (Section 32A), by way of which successful resolution applicants will be ring-fenced from the threat of criminal proceedings for offences committed by the former promoters of the corporate debtor.