Directors beware!

The Hon’ble Supreme Court of India (“Supreme Court”) by a 2:1 majority in Independent Sugar Corporation Limited v Girish Sriram Juneja and Ors1, has held that in case of resolution plans proposing a combination (i.e., a merger or amalgamation of the entities) of a corporate debtor, the Competition Commission of India (“CCI”) must first grant the necessary approval before such Resolution Plan is placed before the Committee of Creditors (“CoC”) for it

1. Introduction

Chapter 15 of the Bankruptcy Code is a mechanism for debtors to have foreign insolvency proceedings recognized in the U.S. and to have the orders entered by a foreign court in those insolvency proceedings abroad given effect in the U.S.

Key Issues

RECOGNITION OF A FOREIGN MAIN PROCEEDING

The UK Supreme Court’s recent decision in El-Husseini and another v Invest Bank PSC [2025] UKSC 4 has clarified the circumstances in which section 423 of the Insolvency Act 1986 (the Act) provides protection against attempts by debtors to “defeat their creditors and make themselves judgment-proof.” This is a critical decision for insolvency practitioners, any corporate or fund which is involved in distressed deals and beyond to acquirers who were not aware they were dealing in distressed assets.

Introduction

•The limitation law concerns the primary concept of ascribing a fixed time frame within which all legal contentions are required to be raised by parties; the law in this regard is governed primarily by The Limitation Act.

•S. 238A of IBC, 2016 provides:-

“238A. The provisions of the Limitation Act, 1963 shall, as far as may be, apply to the proceedings or appeals before the Adjudicating Authority, the National Company Law Appellate Tribunal, the Debt Recovery Tribunal or the Debt Recovery Appellate Tribunal, as the case may be.”

  -정부 효율 증진과 국민 통합 추진, 단기적 업무지연 예상 -

베트남의 정부조직 개편에 따라, 2025. 3. 1.자로 중앙정부 각 부처 및 장관급 기관 일부가 통합 또는 신설되어 14부로 개편되었고, 이에 따라 각 성급 인민위원회 산하의 지역국 조직도 개편되고 있습니다.

이번 정부조직 개편은 조직 통폐합에 따른 효율 증진 및 인원 감축을 기조로 하고 있으며, 이어서 성급 행정구역의 재편과 인원 감축도 예견되고 있습니다. 이에 따라 각 부처의 권한이 간명하게 정리되고 각종 인허가 절차가 효율화될 것으로 기대되는 한편, 과도기적으로는 중앙부처 및 지역국 통폐합/신설과 인원 감축에 따른 일시적 업무 지연도 예상된다는 점에 유의하여야 합니다.

1.베트남 정부조직 개편 경과

2.베트남 정부조직 개편의 주요 내용

3.예상효과 및 기업의 단기적 유의사항

1. 베트남 정부조직 개편 경과