Corp Legex

Assessing the Appropriate Forum for Initiating Insolvency Resolution Proceedings Against Personal Guarantors in the case of Anita Goyal & Ayush Goyal v. Vistra ITCL (India) Ltd. and Anr.  : DRT or NCLT?

March 21, 2025

Assessing the Appropriate Forum for Initiating Insolvency Resolution Proceedings Against Personal Guarantors in the case of Anita Goyal & Ayush Goyal v. Vistra ITCL (India) Ltd. and Anr.  : DRT or NCLT?

The Article has been drafted by Suman Kumar Jha (Founder & Managing Partner), Afnaan Siddiqui (Co-Founder & Partner), Visakha Raghuram (Associate) and Vaibhav Khurana (Associate). The case involves two appeals filed by personal guarantors of the corporate debtor, Nivaya ASL Pvt. Ltd. These appeals arose from impugned orders passed by the Hon’ble National Company Law Tribunal, Principal Bench (“NCLT’) whereby Resolution Professional […]

March 21, 2025

Delhi High Court upholds Constitutionality of Section 132 and NFRA Rules but Flags Procedural Lapses by NFRA

The Article has been drafted by Suman Kumar Jha (Founder & Managing Partner), Afnaan Siddiqui (Co-Founder & Partner), Visakha Raghuram (Associate) and Ankit Abhishek Jha. The Delhi High Court in its recent judgement, in the matter of Deloitte Haskins & Sells LLP vs. Union of India & Anr, W.P.(C) 1065/2021  dated 7th February upheld the validity of Section 132(4) […]

March 21, 2025

Pre-Packaged Insolvency vs. CIRP  Priority and Dissenting Creditor Rights

The Article has been drafted by Suman Kumar Jha (Founder & Managing Partner), Afnaan Siddiqui (Co-Founder & Partner), Visakha Raghuram (Associate) and Vaibhav Khurana (Associate) The Corporate Debtor (CD) had defaulted on loans availed from a Consortium of Lenders, including State Bank of India (SBI), IDBI Bank, and Bank of Baroda. SBI and IDBI Bank had approved a One-Time Settlement (OTS), while […]

March 21, 2025

IBBI Introduces Key Amendments to Enhance Liquidation Processes and Accountability

The Update has been drafted by Suman Kumar Jha (Founder & Managing Partner), Afnaan Siddiqui (Co-Founder & Partner), Visakha Raghuram (Associate) and Vaibhav Khurana (Associate). The Insolvency and Bankruptcy Board of India (IBBI)  has made significant amendments to primary regulations governing the process of  Liquidation by way of notifications dated January 28th 2025. These amendments are focused on improved processes and accountability. […]

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