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insolvency Tag

SURANA & SURANA > Posts tagged "insolvency"

PPIRP PROBED: EXAMINING PROGRESS AND CHALLENGES IN MSME INSOLVENCY

Ms. Chinna Aswathy Abraham (Senior Associate- Dispute Resolution Practice) Ms. Pooja Shree A (Student Intern – Dispute Resolution Practice) Introduction This author has previously explored the intricacies of the Pre-Packaged Insolvency Resolution Process (“PPIRP”) during its nascent stages in an article titled "Pre-Packaged Insolvency Resolution Process – The Journey Thus Far", published on this blog in January 2022. Over two years have lapsed since, and it is imperative to pause and assess the trajectory of these proceedings. This assessment aims to contribute to the ongoing discourse surrounding insolvency frameworks for MSMEs in India, providing a nuanced perspective that considers both the initial expectations...

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THE INTERSECTION BETWEEN THE CAPETOWN CONVENTION AND IBC, 2016: AN OXYGEN MASK FOR THE INDIAN AVIATION INDUSTRY

Chinna Aswathy Abraham - Senior Associate, Dispute Resolution Practice Mayday? More like, May-Decade! Starting with the grounding of the Kingfisher Airlines in 2012, followed by the downfall of Jet Airways in 2019, all the way to the latest insolvency of Go First- it is safe to say that it has been a bumpy ride for the Indian Aviation Industry. With the initiation of the Corporate Insolvency Resolution Process (‘CIRP’) against Go First- India and more particularly the Indian insolvency law framework was brought under global scrutiny. As per Section.14 (1)(d) of the Insolvency & Bankruptcy Code, 2016 (‘IBC’), once a Corporate Debtor...

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The intersection between admiralty laws and cross-border insolvencies: in deep water or smooth sailing?

The intersection between admiralty laws and cross-border insolvencies - in deep water or smooth sailing

Chinna Aswathy Abraham Associate, Dispute Prevention and Resolution The intersection between admiralty laws and insolvency laws has been making waves for the last many years With respect to India, questions arose as to the jurisdictions of the courts- while admiralty jurisdiction generally exercised by the High Courts, the National Company Law Tribunals (‘NCLT’) exercise jurisdiction over the subject of corporate insolvencies. The operation of moratorium over admiralty suits and the treatment of these plaintiffs as creditors under the Insolvency & Bankruptcy Code (‘IBC, 2016’) were also areas that needed clarity. In January this year, in Angre Port Pvt Ltd v. TAG 15 &...

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Modified Universalism And The Interplay Of The UNCITRAL Model Law & The New York Convention

Modified Universalism And The Interplay Of The UNCITRAL Model Law & The New York Convention

The Convention on the Recognition and Enforcement of Foreign Arbitral Awards (1)also known as the ‘New York Arbitration Convention’ was adopted with the aim of harmonising the process for the recognition and enforcement of foreign arbitral awards and for referral by a court to arbitration. However, in spite of its large scale success, the harmonization process has not been completed, because various jurisdictions apply and interpret the New York Convention differently....

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