Aarnalaw

Tag: insolvency and bankruptcy code (ibc)

  • Emerging Trends in Insolvency Litigation

    Emerging Trends in Insolvency Litigation

    —

    by

    aarnalawadmin
    in ,

    Prevention of Money Laundering Act (PMLA) in IBC proceedings The apparent conflict between the Insolvency and Bankruptcy Code (IBC) and PMLA, often manifesting itself during insolvency processes, calls for a careful balance between protecting the rights of creditors and preventing money laundering. Recent judgments suggest that a harmonious interpretation is possible, recognizing the importance of…

  • Supreme Courts clarifies the meaning of a ‘financial’ debt in insolvency proceedings

    Supreme Courts clarifies the meaning of a ‘financial’ debt in insolvency proceedings

    —

    by

    aarnalawadmin
    in ,

    The Supreme Court of India’s April judgment in Global Credit Capital Limited v. Sach Marketing Pvt. Ltd. goes some way towards resolving a question that professionals administering an insolvency process in India often have to grapple with: is a creditor an operational or financial creditor? Facts The key question before the court was whether the Respondent,…