Libertatem Magazine

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NikunjMehta

NCLAT: Former employee of a Financial Creditor cannot be appointed as an Interim Resolution professional

A petition to initiate Corporate Insolvency Resolution Process (CIRP) against M/S Metenere Limited (Corporate Debtor) was made before the National Company Law Tribunal (NCLT) Delhi. Post issuance of the order, the State Bank of India (Financial Creditor) proposed to appoint Mr. Shailesh Verma, its former employee as the interim resolution

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Decoding the Inefficacious Judicial Interpretation of Outbound Demergers in India

Authors – Nikunj Mehta & Eshvar Girish, Students of School of Law, Christ University Post the 1990’s, the adoption of globalization yielded several demergers and combinations around the world. To facilitate smooth conduction of such cross-border arrangements, Companies Act 2013, followed by Companies (Compromises, Arrangements and Amalgamations) Rules, 2016 have

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NCLAT held Debt Restructuring procedure of the IL&FS to be valid

Infrastructure and Leasing & Financial Services (IL&FS) is a conglomerate, established over 30 years ago. The conglomerate has a 348 group of companies engaged in the business of funding infrastructure projects. Over the past few years, it reported financial distress, which resulted in the commission of several defaults in debt

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