This article has been authored by Afnaan Siddiqui (Co-founder and Partner) and Visakha Raghuram (Associate). UNDERSTANDING THE REVERSE FLIP: Of late, a significant trend has emerged within the Indian corporate landscape: the “Reverse Flip.” India’s burgeoning startup ecosystem has become a fertile ground for innovation and growth, attracting companies to relocate their headquarters back to Indian soil. There […]
The Article has been drafted by Suman Kumar Jha (Founder & Managing Partner), Afnaan Siddiqui (Co-Founder & Partner), Visakha Raghuram (Associate) and Akshita Varshney. Case Background & Facts: The Supreme Court (“SC”), on 02.01.2025, ruled in the case of Principal Commissioner of Income Tax-4 & Anr. v/s M/s Jupiter Capital Pvt. Ltd. (Appeal No. 63 of 2025), that capital loss of equity shares held in a subsidiary […]
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 […]
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) […]
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 […]
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. […]
The Article has been drafted by Suman Kumar Jha (Founder & Managing Partner), Afnaan Siddiqui (Co-Founder & Partner), Visakha Raghuram (Associate) and Vaibhav Khurana (Associate). A Personal Guarantor filed an application under Section 94(1) of the Insolvency and Bankruptcy Code (IBC) which allows a Debtor who has committed a default to file an application for initiating the insolvency resolution process, either […]
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 introduced significant amendments to the Insolvency Resolution Process for Corporate Persons (CIRP) Regulations, 2016, with a special focus on real estate projects. The amendments, notified […]
This Article has been authored by Suman Kumar Jha (Founder & Managing Partner), Afnaan Siddiqui (Co-Founder & Partner), Visakha Raghuram (Associate) and Akshita Varshney Sections 66 & 68 of the Companies Act, 2013 are independent and separate mechanisms of capital restructuring. Conditions prescribed u/s 68 for buy-back of shares shall not be applicable in case […]
The Update has been drafted by Suman Kumar Jha (Founder & Managing Partner), Prince Shankhdhar (Partner), Visakha Raghuram (Associate) and Ankit Abhishek Jha Introduction The Securities Exchange Board of India (‘SEBI’) has issued a consultation paper on November 19, 2024, proposing significant reforms to the SME (‘Small & Medium Enterprises’) IPO framework, introducing transformative measures to […]
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