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[By Medha Nagpal & Anushka Agarwal] The authors are students at the Jindal Global Law School. The quest to privatize Air India has come to an end with its takeover by Talace Private Limited, a wholly owned subsidiary of Tata Sons (“Talace”) after years of unsuccessful attempts. The third and final attempt to disinvest the national carrier airline was completed with the sale of 100% equity shares of...
[By Anushka Juneja] The author is a student at the Gujarat National Law University. The Indian economy has long been sitting on a ticking time bomb which is the mountain of bad loans held by its banks. The rapidly increasing non-performing assets pose a systematic risk to the banking system which consequently affects the economy as a whole. Several steps including the enforcement of the Insolvency And Bankruptcy Code,...
[By Tanish Arora] The author is a student at West Bengal National University of Juridical Sciences, Kolkata. Introduction The case is centred around the conversion of a Public Limited Company to a Private Limited Company and has been filed before the National Company Law Tribunal, Allahabad under Section 14(1) of the Companies Act, 2013.[1] The court has considered the question of what prerequisites must be present for such...
[By Gayathri Balasubramanian] The author is a student at the Christ (Deemed to be) University, Bangalore. Introduction: The concept of the moratorium is one of the Insolvency and Bankruptcy Code’s (the Code) most fundamental aspects. It is provided for under section 14 of the Code and is considered as a crucial concept that effectively brings to halt any simultaneous proceedings brought against the corporate debtor during the corporate...
[By Ankit Sharma] The author is a student at the Jindal Global Law School, Sonipat. Introduction The withdrawal of resolution plans under The Insolvency and Bankruptcy Code 2016 (“Code”), had always been a contentious issue, with the NCLTs and NCLAT taking conflicting positions in the past. In the recent case of Ebix Singapore Private Limited v. Committee of Creditors of Educomp Solutions Limited (“Ebix Singapore”), the Supreme Court...
[By Shuchi Agrawal] The author is a student at the Jindal Global Law School. Corporate governance refers to the mechanisms which are used to regulate and govern a corporation. The model of corporate governance adopted, determines the scope of powers that are wielded by different actors, in order to facilitate the smooth functioning of a company. The U.S. and U.K. follow an outsider model of corporate governance, which...
[By Alay Ninad Raje] The author is a student at the Institute of Law, Nirma University. Introduction The heat of Dawn Raid was recently faced by Beer Companies who were held responsible for violating the provisions of the Competition Act, 2002 (“the Act”) by forming and operating an all-India cartel, by the Competition Commission of India (“CCI”) vide an order dated 24.09.2021.This order relied upon pieces of evidence...
[By Varuni Agarwal] The author is a student at the National Law University, Odisha. INTRODUCTION Section 7 of the Insolvency Bankruptcy Code (“IBC”) empowers a financial creditor to initiate a Corporate Insolvency Resolution Process against the Corporate Debtor on account of default. As per Section 5(7) of IBC, a financial creditor means a creditor against whom the Corporate Debtor owes a financial debt. Section 5(8), defining financial debt,...