Regional news: India

Is the current class of unscrupulous businessmen and women worried more about likes than the law? At INSOL International’s first in-person event in India since the start of the covid pandemic, practitioners discussed cross-border asset tracing in India and whether discretion is a dying art among fraudsters.

27 March 2023

Lawyers in India and further afield tell GRR the country’s decision to open its legal market to foreign law firms and practitioners will present opportunities in the restructuring space and will prove to be a “boon” for India’s insolvency industry.

20 March 2023

The think tank founded by former INSOL International president Sumant Batra has named two Indian judges as emeritus fellows, and dedicated a new mediation centre to another late luminary in the insolvency space.

08 February 2023

India’s economic growth and the refinement of the country’s Insolvency and Bankruptcy Code are not mutually exclusive, a crowd of leading Indian and international practitioners and scholars heard this week at the inaugural conference of the Insolvency Law Academy – a not-for-profit organisation set up by former INSOL International president Sumant Batra.

07 February 2023

While acknowledging the limited regulatory guidance currently in place, managing partner Kyle Broadhurst and Richard Parrish from Cayman boutique Broadhurst provide a brief overview on how at least seven different jurisdictions are approaching the treatment of crypto assets in insolvency.

06 February 2023

The Indian government is inviting comments on a suite of proposed reforms to the country’s Insolvency and Bankruptcy Code, from a new electronic case management platform to special rules for real estate developers.

26 January 2023

The Reserve Bank of India has introduced reforms to allow some asset reconstruction companies to buy businesses out of insolvency, which one financier tells GRR will inspire the confidence of foreign investors in the functioning of India’s distressed acquisition market.

14 October 2022

Featured in Asia-Pacific Restructuring Review 2023

09 September 2022

India’s Supreme Court has confirmed that the existence of a moratorium under the Insolvency and Bankruptcy Code limits the power of a customs authority to recover customs duties, allowing an appeal by the liquidator of an Indian shipbuilding company.

08 September 2022

Indian counsel working for Jeff Bezos’ Amazon have failed to stop the Bank of India placing local conglomerate Future Retail into a corporate insolvency resolution process, with the National Company Law Tribunal’s Mumbai Bench dismissing “baseless” allegations of fraud against the debtor and its creditors.

25 July 2022