Abhishek Kumar & Aditya Singh Raghuvanshi Introduction The burgeoning real estate sector in India, one of the most sought-after sectors for investment, has been a double-edged sword for homebuyers, with many enduring endless delays in receiving possession of their dream homes on account of failure by the real estate developers to promptly complete the project […]
Category: Insolvency
Sanya Khera Introduction Countries across the globe seek to establish a secure judicial system that can serve impartial and just decisions amidst times of crises amongst individuals. Not just insolvency, but the judicial system that caters to it has evolved over time to efficaciously resolve disputes by adopting modern approaches. The establishment of quasi-judicial forums […]
Sampriti & Sugi Malati Murmu Introduction and Background With the decision of Lalit Kumar Jain v. Union of India, the Supreme Court has dealt a death blow to the personal guarantor’s right of subrogation arising after the approval of the resolution plan. The bench upheld the constitutional validity of the notification dated November 15, 2019, […]
In this Article, the authors analyse the rationale and consequences of the recent judgment passed by the Supreme Court, in Lalit Kumar Jain v. Union of India, where it was held that approval of a resolution plan relating to a corporate debtor does not operate to discharge the liabilities of personal guarantors.
Vishesh Jain and K.Amoghavarsha Introduction On 5th June 2020, the Government of India promulgated an ordinance for the Insolvency and Bankruptcy Code, 2016 as a closing move to what was a series of steps to protect Corporate Debtors from initiation of insolvency proceedings in these unprecedented times. It has inserted Section 10A which has effectively […]
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