In a significant and welcome move, the Government of India approved the new Insolvency and Bankruptcy Code (Amendment) Bill, 2019. As many as seven amendments will be made to the Code to help in the resolution of stressed assets. This has been pending for many years and international consultants have recommended...
India to Update Cross-Border Insolvency Laws
The Government of India proposes to amend the Insolvency and Bankruptcy Code through an ordinance by adding a chapter on international insolvency. The amended law will remove ambiguities about bankruptcy proceedings and bolster the confidence of foreign investors in India. The new law, which is a separate section for handling...
In 2018 M&As Lead $100-Bn Plus Deals in India
2018 proved to be a robust year for mergers and acquisitions for Indian corporations. Powered by the Insolvency and Bankruptcy Code and an extremely competitive atmosphere in the mobile and e-commerce space, dealmaking crossed $100 billion for the first time ever. As the government pushed for resolutions, there was a...
IMF: India's Economy Leads in Growth
In its annual assessment of the Indian economy, the International Monetary Fund said, "India’s economy is picking up and growth prospects look bright. As one of the world’s fastest-growing economies—accounting for about 15 percent of global growth—India’s economy has helped to lift millions out of poverty. "The authorities have initiated...
India’s Parliamentary Panel Approves Overhauling Bankruptcy Regulations
Taking a key reform measure to improve ease of doing business, a parliamentary panel in India approved a bill to update outdated bankruptcy regulations. The panel proposed that the Insolvency and Bankruptcy Code should include laws to seize overseas assets of defaulting companies and individuals. The legislation, which will make it...