The World Health Organisation (WHO) declared COVID-19 as a “pandemic” on March 11, 2020.
India, Company & Commercial, Competition & Antitrust, Employee Benefits & Pensions, Employment & Labor, Immigration, Insolvency & Restructuring, Insurance, Litigation, Public, Cyril Amarchand Mangaldas, Due diligence, Force majeure, Coronavirus, World Health Organization
The 2005 Report of the Expert Committee on Company Law (JJ Irani Committee Report) had noted that an effective insolvency law:
“should strike a balance between rehabilitation and liquidation. It should provide an opportunity for genuine effort to explore restructuring/ rehabilitation of potentially viable businesses with consensus of stakeholders reasonably arrived at. Where revival / rehabilitation is demonstrated as not being feasible, winding up should be resorted to.
India, Capital Markets, Competition & Antitrust, Insolvency & Restructuring, Litigation, Cyril Amarchand Mangaldas, Debtor, Securities and Exchange Board of India