India: Insolvency/Bankruptcy

The evolution of India’s insolvency framework from a fragmented and largely creditor-unfriendly regime to the consolidated structure under the Insolvency and Bankruptcy Code, 2016 (“IBC”) has significantly reshaped the risk landscape for company directors, particularly in periods of financial distress.

The National Company Law Tribunal, Kochi Bench, recently addressed a critical question regarding the rights of dissenting financial creditors in post-approval execution proceedings under the Insolvency and Bankruptcy Code, 2016.

This March 2026 legal newsletter examines pivotal judicial pronouncements and regulatory developments spanning arbitration, competition law, constitutional matters, insolvency proceedings, and environmental regulations. The comprehensive analysis explores how recent legal shifts impact businesses and professionals navigating India's dynamic regulatory environment across multiple practice areas including renewable energy, real estate, mining, and white collar crime.

In State Bank of India v. Union of India & Ors.1, the Supreme Court examined the treatment of telecom spectrum within the framework of the Insolvency and Bankruptcy Code, 2016. The Court addressed whether a telecom licensee’s right to use spectrum constitutes an asset forming part of the insolvency estate, and how the IBC interacts with the statutory regime governing allocation of natural resources.

India's insolvency regime is entering a decisive phase of reform. Nearly a decade after the Insolvency and Bankruptcy Code, 2016 ("IBC") came into force, the Insolvency and Bankruptcy Code (Amendment) Bill, 2026, reportedly passed by the Lok Sabha on 30 March 2026, introduces a series of targeted changes aimed at improving the efficiency and predictability of the framework.

The Prevention of Money Laundering Act, 2002 (“PMLA”)1, is India’s key legal framework for combating financial crimes. The legislation criminalizes the process of money laundering...

How the Supreme Court chose economic rehabilitation over procedural politeness, and why delayed corporate schemes cannot hold creditors and the economy hostage...

Under the Insolvency and Bankruptcy Code, 2016, the approval of a resolution plan under Section 31 of the IBC is statutorily binding on the corporate debtor, its creditors, and other stakeholders to the restructured arrangement embodied in the plan.

The March 2026 edition of Fox & Mandal's Dispute Resolution & ADR Newsletter analyses the 3-fold test to determine which procedural orders can be challenged under Section 34 of the Arbitration and Conciliation Act, 1996; ...