by Majmudar & Partners | Aug 2, 2017 | Insolvency and Restructuring
Introduction The Indian government enacted the Insolvency and Bankruptcy Code, 2016 (the “ Code”) to consolidate the law on insolvency in India, and provide an effective and timebound mechanism for recovering debts due to both, financial as well as operational...
by Majmudar & Partners | Jul 26, 2017 | Insolvency and Restructuring
Introduction With the aim of having a robust and efficient insolvency process and to remedy the appalling credit default situation in India, the Indian government enacted the Insolvency and Bankruptcy Code, 2016 (the “ Code”). The Code introduced sweeping reforms by...
by Majmudar & Partners | Jun 10, 2016 | Insolvency and Restructuring
Background – The need for a new law The Indian legal framework for insolvency resolution, debt recovery and restructuring of stressed assets was ineffective in ensuring satisfactory repair of credit default mainly due to the fact that insolvency and debt...
by Majmudar & Partners | Jul 10, 2015 | Banking and Finance, Insolvency and Restructuring
Introduction To address various issues surrounding distressed assets in the banking system, on February 26, 2014, the Reserve Bank of India (the “RBI”) issued the Framework for Revitalising Distressed Assets in the Economy (the “Framework”). The Framework, inter alia,...
