ABC OF IBC
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PMLA v IBC: The NCLAT Invokes Ganges and National Interest
The National Company Law Appellate Tribunal, New Delhi (‘NCLAT’) in Value Wise Consultancy Private Limited v The Deputy Director, Directorate of Enforcement had to decide that when two legislations were in action- the Insolvency and Bankruptcy Code, 2016…
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Quick Comment: Section 29A(c) Disqualification and a Redundant NPA Account
Introduction Section 29A(c) of the Insolvency and Bankruptcy Code, 2016 (‘IBC’) makes a person ineligible to submit a resolution plan, if such person, or any other person acting jointly or in concert with such person,- at…
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Piercing Corporate Veil under the IBC: The Alpha Corp Case Reveals Little
I. Introduction The Supreme Court in Alpha Corp Development Private Limited v Greater Noida Industrial Development Authority (GNIDA) (‘Alpha Corp case’) permitted piercing of the corporate veil. And allowed assets of subsidiary companies to be included in corporate…
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Bhushan Steel-II Case | Understanding the Supreme Court’s Change of Heart
Preliminary (Quiz) Notes: This is a two-part series on the Bhushan Steel saga. In Part-I, I discuss the Supreme Court’s - now recalled – first judgment where it decided to liquidate Bhushan Power and Steel. In…
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Bhushan Steel – I Case | Understanding the Supreme Court’s Liquidation Order
Preliminary (Quiz) Notes: This is a two-part series on the Bhushan Steel saga. In Part-I, I discuss the Supreme Court’s - now recalled – first judgment where it decided to liquidate Bhushan Steel. In Part-II, I…
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IBC (Amendment), 2026 Series – VI | An Overview of the CoC’s Evolving (and Expanding) Role
The Insolvency and Bankruptcy Code (Amendment) Act, 2026 (‘IBC Act, 2026’) - inter alia – expands role of the Committee of Creditors (‘CoC’) in the Insolvency and Bankruptcy Code, 2016 (‘IBC’). The most notable expansion is that…
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IBC (Amendment), 2026 Series – V | Ghost of the Rainbow Paper Case: The Parliament Buries an Unnatural Interpretation
Introduction The Insolvency and Bankruptcy Code (Amendment) Act, 2026 (‘IBC Act, 2026’) - inter alia - amends Section 53 of the Insolvency and Bankruptcy Code, 2016 (‘IBC’). The amendment is, largely, in response to the Supreme Court’s…
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IBC (Amendment), 2026 Series – IV | The Clean Slate Doctrine: Another Attempt at Laying Down the Law
The Insolvency and Bankruptcy Code (Amendment) Act, 2026 (‘IBC Act, 2026’) - inter alia - amends the Insolvency and Bankruptcy Code, 2016 (‘IBC’) to underline scope of the clean slate doctrine. IBC Act, 2026 is the second…
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IBC (Amendment), 2026 Series – III | Restoring CIRP under the IBC: A New Portal Opens
The Insolvency and Bankruptcy Code (Amendment) Act, 2026 (‘IBC Act, 2026’) amends the Insolvency and Bankruptcy Code, 2016 (‘IBC’) and empowers the National Company Law Tribunal (‘NCLT’) to restore Corporate Insolvency Resolution Process (‘CIRP’) before passing an…
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IBC (Amendment), 2026 Series – II | CoC’s Role in the IBC: A Case for Greater Legislative Clarity
The Insolvency and Bankruptcy Code, 2016 (‘IBC’) provides the Committee of Creditors (‘CoC’) a central role in corporate insolvency resolution proceedings (‘CIRP’). The IBC prescribes the CoC’s role in broad terms and specific boundaries are still…
