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ERGO Analysing Developments Impacting Business: A Three Judge Bench of Supreme Court Upholds the Prevailing View that NCLT has Inherent Powers to Recall an Order Approving a Resolution Plan

Introduction

India, Company & Commercial, Insolvency & Restructuring, Litigation, Khaitan & Co, Coronavirus, Insolvency, National Company Law Tribunal
NCLT Mumbai orders reference to arbitration in an insolvency petition under the IBC

In a significant judgment dated 9 June 2020 titled ‘Indus Biotech Private Limited v.

India, Arbitration & ADR, Insolvency & Restructuring, Litigation, Khaitan & Co, Private equity, Title 11 of the US Code
Snapshot of Key Changes Proposed to the Indian Insolvency & Bankruptcy Code, 2016

The Indian Insolvency & Bankruptcy Code, 2016 (IBC) has seen several challenges in recent times. The Indian Government has been proactive in responding to these. In response to the recent set of challenges, the Government intends to implement another round of amendments to the IBC. The key takeaways from this proposed amendment are discussed below.

India, Insolvency & Restructuring, White Collar Crime, Khaitan & Co, Money laundering, Title 11 of the US Code