A Turning Point in the Exercise of Inherent Powers under NCLT Rule 11 and Article 142 Glas Trust Company LLC v. BYJU Raveendran & Ors.
This has been authored by Eshna Kumar & Gloria H. Purty. —– Under Rule 11 of the NCLT Rules, the NCLT has been given inherent powers. These powers were regularly used even to carry out settlements. This piece attempts to explain the contours of Rule 11 of the NCLT Rules, in light of the recent […]
Impact of arbitral disputes in the insolvency regime in India
In India, insolvency has become a preferred mode for creditors to enforce theirrights under a contract and/or a statute. The Insolvency and Bankruptcy Code, 2016 recognises these rights primarily for two types of creditors, financial and operational. On admission of an application filed by any such creditor, the corporate insolvency resolution process commences. An order […]
Companies affected shouldn’t add to NPA defaulters list
An expert committee needs to be set up to identify industries affected by Covid-19. At the outset, airlines, hotels, restaurants, transport firms, automobile companies and toll plaza companies can be included in them. The Insolvency and Bankruptcy Code (the “Code”) was promulgated with effect from 1 December 2016 and the powers of Adjudicating Authority were […]