Why Embassy Property Developments is Impracticable and Has a Short Future
A critical analysis of the Supreme Court's recent judgement in the case of Embassy Property Developments.
Jaypee Infratech and the Meaning of the term “Financial Creditor”
The Supreme Court made a mistake.
Jaypee Infratech, the Supreme Court and a Matter of Preference
The insolvency of Jaypee Infratech Limited (JIL) is only eclipsed by Essar Steel in its contribution to insolvency law. The very definition of a financial debt, the cornerstone of the IBC, was amended to fulfil the needs of its homebuyers, mostly the hapless purchasers of JIL’s aptly-named, graveyard-like “Wish Town” [...]
The New Essar Steel Judgement – Of Old Wine and New Bottles
Reading about the new Essar Steel judgement in my morning newspaper, I was convinced that all was well. I was wrong.
The New Amendments to the IBC – Thumbs Up or Down?
The new amendments to the IBC are a mixed bag.
The Essar Steel Story, Or Why the IBC Is Irredeemably Flawed
About time someone mentions the elephant in the room - the CoC truly sucks.
My grouses with the Supreme Court’s Ruchi Soya judgment
The NCLT, Ahmedabad just reserved its judgment in the fresh round of litigation in the seemingly interminable Essar Steel insolvency. Among other issues, it will decide on an application by Essar’s former directors to set aside the approval of Essar’s Committee of Creditors (CoC) to ArcelorMittal’s resolution plan. The directors [...]
Two Judgments bring the Insolvency and Bankruptcy Board of India into focus
Two recent Supreme Court decisions shine a light on the IBBI and its proper function as a regulator.
The Swiss Ribbons judgment – The Supreme Court upholds the constitutional validity of the IBC
The Supreme Court recently upheld the constitutionality of the IBC. I agree with the Court’s conclusion, but I don’t agree with how it got there.