Avada Law

Understanding the Liability of Personal Guarantors under the Insolvency and Bankruptcy Code, 2016

By Ashish Aggarwal and Gurcharan Singh Introduction: The enactment of the Insolvency and Bankruptcy Code, 2016 (IBC) revolutionized India's insolvency landscape by providing a comprehensive framework for resolving corporate insolvencies. Alongside this, the IBC also introduced significant changes concerning the liability of personal guarantors. This article aims to shed light on the liability of [...]

By |2023-09-25T07:01:50+00:00September 25th, 2023|Financial, International, Taxes|0 Comments

An Analysis of Group Insolvency in India with a focus on 2nd Report of the Cross Border Insolvency Rules/Regulations Committee on Group Insolvency

By Ashish Aggarwal and Ravina In recent years, there has been an increasing focus on the need for regulation on group insolvency. In the Insolvency and Bankruptcy Code, 2016 (IBC) there is no mention of group insolvency, however, there are certain judgments of the Hon’ble National Company Law Appellate Tribunal, which have dealt with [...]

By |2023-09-25T07:07:57+00:00September 25th, 2023|Financial, International, Taxes|0 Comments

Borrowers must be heard before their Account is classified as Fraud by a Bank: Supreme Court

Borrowers Must Be Heard Before Their Account Is Classified As Fraud By A Bank: Supreme Court By Ashish Aggarwal, Jaisal Baath Reserve Bank of India is constituted under Section 3 of the Reserve Bank of India Act, 1934 (“RBI Act”). RBI has been vested with the powers to issue directions to banking companies in [...]

By |2023-09-25T06:25:01+00:00September 25th, 2023|Financial, International, Taxes|0 Comments

Investors in Start-Ups and Probability of them being classified as Promoters

By Ashish Aggarwal and Nalin Dhingra In any negotiation for investment by any angel investor, PE fund, VC Funds, etc., most of the investors insist that it should be specifically carved out in the Shareholders/Share Subscription agreement etc. that the said investors shall not be classified as promoters. The said requirement evolves out of the [...]

By |2023-09-25T07:11:56+00:00September 25th, 2023|Financial, International, Taxes|0 Comments

Law on Limitation for filing of a Written Statement: Explained

Table of Contents I. Introduction. 1 II. The law as it stands today 2 III. Tracing the history of law as it stands today 5 A. Suit is duly instituted. 10 B. Summons to be accompanied with the plaint and the document relied upon therein. 12 C. Defendant entered appearance before the service of [...]

By |2023-09-22T19:34:47+00:00February 7th, 2021|Financial, International, Taxes|0 Comments

Procedural Differences – Suit under The Commercial Courts Act, 2015 and The Code of Civil Procedure, 1908

November 2020 ashish@intellectlp.com I.  INTRODUCTION The Commercial Courts, Commercial Division and Commercial Appellate Division of High Courts Act, 2015 (“the Act”) which has made amendments to the Civil Procedure Code, 1908 (“CPC”) was enacted to provide speedy disposal of high value commercial disputes to invite investor confidence. The Act is an effort on behalf [...]

By |2023-09-22T19:16:16+00:00November 15th, 2020|Financial, Governments, International|0 Comments

Preferential Transactions under the Insolvency & Bankruptcy Code, 2016

MAY 2020 ashish@intellectlp.com About Intellect Law Partners (ILP) ILP is a full-service law firm, based in India, offering unparalleled legal expertise to corporations, individuals and international entities, rendering across a comprehensive range of practice areas including Corporate Laws, Commercial Laws, Insolvency Laws, Civil Laws including Succession Laws, Real Estate and Corpo-Criminal Laws that are [...]

By |2023-09-22T19:20:15+00:00May 13th, 2020|Financial, International, Taxes|0 Comments

Anti Conversion Law

Right to freedom of religion, covered in Articles 25, 26, 27 and 28, provides religious freedom to all citizens of India. The objective of this right is to sustain the principle of secularism in India. According to the Constitution, all religions are equal before the State and no religion shall be given preference over [...]

By |2022-12-09T06:57:33+00:00May 2nd, 2013|Financial, International, Taxes|0 Comments
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