India: Financial Restructuring

The Supreme Court of India has delivered a landmark ruling addressing the growing threat of AI-generated fabricated legal precedents in judicial proceedings. In Pooja Ramesh Singh v. Jammu and Kashmir Bank Ltd., the Court established a zero-tolerance policy toward hallucinated case law, setting aside tribunal orders that relied on non-existent judgments while establishing comprehensive guidelines for the responsible use of artificial intelligence in the legal profession.

The 2026 IBC amendments have fundamentally altered the dynamics of personal guarantor insolvency proceedings by eliminating automatic interim stays. What was once a powerful tool for promoters to halt recovery actions through a simple filing now requires substantive judicial scrutiny, shifting the balance of power back toward creditors and forcing lenders to reassess their enforcement strategies across multiple forums.

The Insolvency and Bankruptcy Code has witnessed extensive stakeholder participation and disputes over control of Corporate Debtors, particularly regarding Committee of Creditors membership and resolution plan submissions. This analysis examines how unscrupulous stakeholders exploit legislative gaps between Section 29A's ineligibility criteria and Section 30(5)'s voting provisions, allowing them to manipulate the insolvency resolution process through strategic debt acquisition and conflict-of-interest

India’s insolvency framework has, since the enactment of the Insolvency and Bankruptcy Code in 2016, been a work in continuous progress.

The 2026 Amendment to India's Insolvency and Bankruptcy Code has fundamentally altered the status of statutory land authorities in insolvency proceedings, stripping them of their claimed secured creditor status.

By way of the Impugned Order, the NCLAT had set aside the National Company Law Tribunal’s (“NCLT”) approval of 3 (three) project-wise resolution plans of Earth Infrastructures Limited (“CD”). The NCLAT held that the said plans erroneously included the assets of the CD’s subsidiaries, without seeking permission for transfer from GNIDA, being the principal lessor/owner of the said assets.

Global Capability Centres (“GCCs”) in India are at an inflection point. With over 1,800 centres employing nearly two million professionals and generating approximately USD 64.6 billion in revenue as of 2024, the sector accounts for roughly 35 percent of India’s technology services workforce and over 1.6 percent of national GDP.

The National Company Law Appellate Tribunal, New Delhi Bench (“NCLAT”), in its judgment dated March 19, 2026, in SPS Steels Rolling Mills Limited v. Central Bank of India, Comp. App. (AT) (Ins)...

In recent years, corporate India has witnessed an increasing number of amalgamations, group consolidations, and share-swap mergers driven by restructuring, capital efficiency, and regulatory considerations. Such transactions are often designed on the assumption that share-for-share exchanges are tax neutral, particularly where no cash changes hands.