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Sreenivas Bidari and Ranjit Kejriwal

Understanding pre-packaged insolvency resolution process

May 28, 2021

One of the stated objectives of the Insolvency and Bankruptcy Code (IBC) is to revive sick companies. However, it was gradually seen to be more harmful than beneficial to MSMEs. MSME sector in India is unique; it distinguishes itself from any other form of the industrial ecosystem in the world,...

THE ESSAR STEEL RESOLUTION: AN IBC SUCCESS STORY

April 21, 2021

Not long after the implementation of the Insolvency and Bankruptcy Code (IBC), the Reserve Bank of India identified the first 12 large cases for the insolvency proceedings. The case of Essar Steel Ltd was one of them. The Essar Steel Ltd (ESL for short) had financial debts of Rs 49,000...

MERITS OF THE INSOLVENCY AND BANKRUPTCY CODE, 2016

April 7, 2021

The Insolvency and Bankruptcy Code (IBC), 2016, (or the Code) a law enacted to consolidate the framework of existing insolvency and bankruptcy laws, will be turning five years old. With its fifth anniversary coming up on 28 May 2021, it would be appropriate to have a bird’s eye view of...