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Insolvency

Simultaneous proceedings for the same debt under IBC

By Dhiraj Yadav and Barkha Dwivedi It is a well settled principle that the liability of a Principal Debtor and a Guarantor is coextensive. The same is enshrined under section 128 of the Indian Contract Act, 1872. Despite this, the act of initiating simultaneous proceedings against Principal Debtor and Guarantor for the same amount of […]

Categories
Insolvency

Comments on Insolvency and Bankruptcy Code (Amendment) Act, 2019: A Bankers’ Perspective

By Shantanu Saharan & Shreyas Santra Introduction The Insolvency and Bankruptcy Code (Amendment) Act, 2019[1] was passed by the House of People without much contention unlike the previous Bills approved by the parliament on Insolvency Law. The Insolvency and Bankruptcy Code, 2016 [“IBC”], over the years, has precipitated from the efforts of Late Mr. Arun […]