Global Restructuring Review - Cross-border restructuring and insolvency legal news, features and events

No more “zombie debt”: new limitation provisions apply retrospectively, Indian Supreme Court rules

By Benjamin Clarke

16 October 2018

No more “zombie debt”: new limitation provisions apply retrospectively, Indian Supreme Court rules iStock-com/anil-shakya19

A recent amendment to India’s Insolvency and Bankruptcy Code that prevents creditors from filing proceedings based on time-barred claims has retroactive effect, according to a Supreme Court ruling in Delhi.