The Government of India has been undertaking numerous initiatives to boost Foreign Direct Investment (FDI) into India and generally making it easier to do business. These include reengineering existing administrative processes with an attempt to reduce dependence on manual interference.
Read MoreThe Insolvency and Bankruptcy Code, 2016 (IBC) has impacted companies and assets across various industries and has thrown up a range of opportunities for potential investors. In order to promote investment activity and ensure effective revival of stressed assets, it is critical for the legal framework to be unambiguous and practically workable. While the IBC framework has largely been considered effective so far, there remains a lack of clarity on certain issues that could have practical implications for potential investors and resolution applicants.
Read MoreThe effects of global warming and ever-rising pollution have brought an increased environmental consciousness among people globally. Various attempts have been made by governmental and non-governmental bodies to spread awareness about climate change and to control pollution. In India, use of fossil fuel-based energy resources, including in power generation, is one of the major reasons for pollution.
Read MoreThe Reserve Bank of India (RBI) offers an array of mechanisms for dealing with stressed assets. At last count, these included corporate debt restructuring, strategic debt restructuring, the scheme for sustainable structuring of stressed assets, and joint lenders forums with corrective action plans. Added to this are the various classifications of “special mention accounts” (SMAs) and the various stages of non-performing assets. The absence of a statute-driven insolvency apparatus justified the need for these mechanisms, but the enactment of the Insolvency and Bankruptcy Code (IBC) rendered their utility moot. Indeed, these mechanisms were unintendedly in conflict with the IBC.
Read MoreIn the recent past, the rich Indian brigade has caught the public eye on account of what the Indian Government refers to as the 'loot and scoot' crimes. From cricket event organizers, liquor barons to diamond merchandisers all have been accused of multi crore scams and the tendency of suddenly leaving the shores of India.
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