r 1 //./ r 2 Capital Market 08 Dispute Resolution 15 Fintech 20 International Trade/ WTO 25 Ministry of Corporate Affairs (MCA) 30 Restructuring and Insolvency 39 Sports and Gaming 45 White Collar Crime 03 Competition Law 11 Employment Law 17 Infrastructure and Energy 23 Media and entertainment 28 RBI & FEMA 36 RERA 42 Technology 47 r 3 CIRCULAR ON ONE-TIME RELAXATION WITH RESPECT TO VALIDITY OF SEBI OBSERVATIONS1 The Securities and Exchange Board of India (“SEBI”), vide Circular dated April 07, 2026, has introduced a one-time relaxation regarding the validity of observation letters iss

1. Introduction

Disputed high‑value commercial debts are an unavoidable reality for many businesses. Where sums of £100,000.00 or more are outstanding, commercial debt recovery is rarely just about non‑payment: cashflow, risk exposure, and leverage are all in play.

In our March Alert, 3 Strikes Against Chapter 15: What the Texas Geden and Siu-Fung Decisions Mean for Recognition Strategy, we discussed two important decisions by Judge Alfredo Pérez of the U.S. Bankruptcy Court for the Southern District of Texas denying Chapter 15 recognition as to three debtors. We noted that some of the grounds for denial may have been avoidable with different pre-petition planning.

Our ‘Australian Restructuring and Insolvency Guide’, is a practical resource when facing distressed situations, enforcement options and insolvency processes in Australia. It brings together the key legal principles and the commercial considerations that typically arise when matters move from stability to stress.

India’s insolvency laws have moved from a complex, debtor-friendly system to a simpler, creditor-focused approach with the Insolvency and Bankruptcy Code (IBC). The 2026 Amendment Act builds on the 2016 IBC to fix problems like delays and misuse, aiming for quicker and more effective resolutions.

The Old Insolvency Regime

A 2 (two) judge bench of the Hon’ble Supreme Court of India (“Supreme Court”), in State Bank of India and Ors. vs. Doha Bank Q.P.S.C.

I. WHY THIS TOPIC IS IMPORTANT

Introduction

The Hon’ble Supreme Court’s decision in Ujaas Energy Ltd. v. West Bengal Power Development Corporation Ltd., Civil Appeal No. 3619 of 2026, decided on 20 March 2026, is an important pronouncement at the intersection of Insolvency Law and Arbitration  

Factual Background

Overview

In this case, the EAT held that an employer that entered into administration had been proposing to dismiss as redundant 20 or more employees within a 90 day period, such that it ought to have conducted collective consultation, and the affected employees were entitled to a protective award.

Background