• Financial & Insolvency Law

    Rights of Employees and Workmen under IBC: Road to Recovery?

    The Insolvency and Bankruptcy Code, 2016 (“Code”) has been enacted with an objective of consolidating and amending the laws relating to reorganisation and insolvency resolution of corporate persons, partnership firms and individuals in a time-bound manner. It aims at maximisation of value of assets of such corporate persons, partnership firms and individuals, promoting entrepreneurship, ensuring availability of credit and balancing the interests of all stakeholders. The author, in this articles, aims to cover the provisions related to the rights of employees under the Code to recover their unpaid wages and salaries from the Corporate Debtor and bring out a picture about how such provisions act as a boon for them. [Dulung Sengupta…

  • Editorials

    Call for Articles: The CorpLexia Blog [Submissions on Rolling Basis]

    About the Blog CorpLexia is a legal blog for the next generation of lawyers, professionals, academics and students focused on the realm of corporate, commercial, financial, insolvency, securities, arbitration and competition laws, who are energised by ambition and striving for perfection. Believing in the free discourse of knowledge, CorpLexia aims to break away from the hardwired practice of caging the very cutting edge of legal research and intellectual output in a close-ended journal, away from open and free access. We endeavour to put forth authoritative, inquisitive and well-researched publications that stand the test of our readers’ intellectual vigour.   Theme Corporate, commercial, financial, insolvency, competition, securities, arbitration laws, etc.  …

  • Financial & Insolvency Law

    SC Strikes Down RBI’s Feb 12 Insolvency Circular: Demystifying the Decision

    A bench of the Hon’ble Supreme court of India comprising of Justices R. F. Nariman and Vineet Saran, in the case of Dharani Sugars and Chemicals Ltd. v. Union of India (“Dharani”) have invalidated the Reserve Bank of India’s (“RBI”) Circular titled ‘Resolution of Stressed Assets – Revised Framework’  (issued on 12.02.2018) (“Feb 12 Circular”) as being ultra vires the Banking Regulation Act, 1885 (“BR Act”) and the Reserve Bank of India Act, 1934 (“RBI Act”). This Circular had overhauled the Indian regime of stressed asset resolution and introduced the generic scheme of a resolution plan to be implemented within 180 days from the date of the default on the loan. Furthermore, where the…