Author
Associate, J. Sagar Associates
Post introduction of the new insolvency regime in India under the Insolvency and Bankruptcy Code, 2016 (“IBC”), a lot has been discussed and debated on the extent of liability of a third-party security provider when a borrower is dragged into the insolvency resolution process (CIRP) proceedings under the IBC. Archana Tewary and Ananda Chakravarty share their insights in light of a recent judgment of the Hon’ble Supreme Court in ‘Phoenix Arc Private Limited vs. Ketulbhai Ramubhai Patel
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In this insightful article, the author discusses the scope and implications of the recent amendment and welcomes the alignment of ILDS Regulations with the requisite provisions of the existing Companies Act, 2013.
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