Alerts & Updates 3rd Nov 2024

Navigating Settlements and Withdrawals under IBC: Jurisprudence, Practical Challenges, and Strategic Considerations for Banks and Debtors

Authors

Mukesh ChandSenior Counsel | Mumbai

Latest Thought Leadership

Newsletter/Booklets 3rd Sep 2026

Market Matters – The Antitrust Brief – August 2026

Read More
Investment Funds
Alerts & Updates 28th Aug 2026

SEBI Consultation Paper on Exemption from the requirement of mandatory merchant banker appointment for Small-value debt through private placement by certain listed issuers

Read More
international trades
Alerts & Updates 26th Aug 2026

U.S. Expands Iran Sanctions under “Operation Economic Outcast” – New Sectoral Measures and India-Related Measures

Read More
international trades
Alerts & Updates 26th Aug 2026

U.S. Expands Iran Sanctions under “Operation Economic Outcast” – New Sectoral Measures and India-Related Measures

Read More

The Indian Insolvency and Bankruptcy Code (IBC) aims for structured, timely corporate insolvency resolutions. However, many cases see banks and corporate debtors pursuing settlements during the Corporate Insolvency Resolution Process (CIRP) for quicker creditor recovery and debtor reorganization. This raises legal and operational challenges, particularly with Section 12A and collective action requirements. The Supreme Court in GLAS Trust Company LLC vs. Byju Raveendran and Ors. highlighted the structured withdrawal process post-admission and the limited role of Rule 11 powers. This post explores evolving jurisprudence on IBC settlements, key judgments, and practical tips for compliant, effective settlements.

Read the detailed update here 

 

Privacy Policy

As per the rules of the Bar Council of India, lawyers and law firms are not permitted to solicit work or advertise. By clicking on the "I Agree" button, you acknowledge and confirm that you are seeking information relating to Economic Laws Practice (ELP) of your own accord and there has been no advertisement, personal communication, solicitation, invitation or any other inducement of any sort whatsoever by or on behalf of ELP or any of its members to solicit any work through this website.