India: Financial Restructuring

India’s insolvency laws have moved from a complex, debtor-friendly system to a simpler, creditor-focused approach with the Insolvency and Bankruptcy Code (IBC). The 2026 Amendment Act builds on the 2016 IBC to fix...

The National Company Law Appellate Tribunal, Principal Bench, New Delhi (“NCLAT”), In the case of Vistra ITCL (India) Limited vs. Vithal Madhukar Dahake and Ors.1, has considered whether a third-party mortgagor, which created security over its assets for the debt of another entity, could be treated as giving rise to a ‘financial debt’ under the Insolvency and Bankruptcy Code, 2016 (“IBC”). The appeal arose from an order of the National Company Law Tribunal, Mumbai (“NCLT”).

The Supreme Court recently examined whether corporate guarantees executed during financial distress can constitute 'financial debt' under the Insolvency and Bankruptcy Code, 2016. The case arose when SBI Consortium's claims as financial creditors were challenged on grounds including suspicious timing, non-disclosure in financial statements, and insufficient stamping.

India's Insolvency and Bankruptcy Code undergoes significant reform through the 2026 Amendment Act, introducing stricter timelines, enhanced creditor oversight, and frameworks for group and cross-border insolvency. The amendments address persistent challenges in resolution efficiency, withdrawal restrictions, and fraudulent transaction scrutiny while aligning with international best practices to strengthen investor confidence.

The enactment of the Insolvency and Bankruptcy Code (Amendment) Act, 2026 marks another major step in the evolution of India’s insolvency regime. Published in the Gazette of India on 6 April 2026...

In a major legislative reform, the Parliament has passed the Insolvency and Bankruptcy Code (Amendment) Bill, 2026 (‘Amendment Bill').

In a landmark judgment, the Hon'ble Supreme Court has held that once a homebuyer's claim is verified and admitted in the insolvency process, it cannot be classified as "belated" merely on procedural grounds.

In a recent decision, the National Company Law Appellate Tribunal (NCLAT) upheld the order of the National Company Law Tribunal (NCLT) directing the liquidation of E.C. Bose & Company Pvt. Ltd., a corporate debtor...

The Supreme Court of India, in a recent judgment, highlights the strict application of limitation provisions in cheque dishonour cases under the Negotiable Instruments Act...