NDA Series on Insolvency and Bankruptcy Code: Recent Jurisprudence, Issues and Proposed Amendments

Tuesday, April 10, 2018

SESSION: 4:00 PM to 6:00 PM (IST)


The Insolvency and Bankruptcy Code, 2016 (“Code”) has completed its first anniversary with great fervor and enthusiasm surrounding its impact. All arms of the State machinery have put in dedicated effort in trying to ensure that the Code is effectively implemented and does not suffer from the same fate as its predecessors. The international community has taken note of the Code and surrounding developments improving our position in the global ease of doing business rankings. However, like all other disruptive mechanisms, the Code has run into its own set of operational hurdles and interpretational issues. The Supreme Court has already been approached to interpret the provisions of the Code, wherein, the Court has highlighted the importance of the Code and the urgent requirement to ensure it seamless integration into the existing legal system.

As the first of a series of webinars, we will discuss the likely changes that are proposed to be made to the Code with the constitution of the insolvency law panel. The insolvency law panel has provided various suggestions to iron out the integration and operational issues being faced by various stakeholders and to strike a balance between the interests of lenders, debtors (promoters) and investors. Amendments to the Code will then be made basis the recommendations

We cordially invite you to be a part of an interactive webinar on April 10, 2018 on these likely changes.

Focus Area

Some of the areas under the Code which might require changes and will be discussed in detail are as follows:

  1. Eligibility criteria of resolution applicants, whether there should be a dilution of the exiting requirements
  2. Conflict between regulatory and legal requirements with propositions made in resolution plan
  3. Decision making by committee of creditors and whether there should be a dilution of the requirement for decisions to be taken by a super majority
  4. Position of home buyers under the Code and possible ramifications of segment wise categorization of creditors
  5. Liquidation value and fair value, maximizing returns for lenders/investors

Flow of the session

4:30 PM – 5:30 PM :




Leader, International Litigation & Dispute Resolution Practice

Nishith Desai Associates

Vyapak Desai leads the International Litigation & Dispute Resolution Practice at Nishith Desai Associates. Vyapak is also a Senior Attorney in the Corporate and Securities Practice group at the firm. Vyapak holds a Bachelors degree in law and a Masters degree in Commercial Laws.

Vyapak is a Co-chair- Council of MCIA, Director of CIArb India Branch. He is listed on SIAC Panel of Arbitrators, LCIA Database of Arbitrators and BVI IAC Panel of Arbitrators.

Vyapak represents clients in a wide-range of services with a special focus on cutting edge cross - border and complex litigations in various courts in India and abroad including disputes related to shareholders agreements, international trade , oil & gas, infrastructure and construction, investment treaty involving international commercial arbitrations.


Leader, Private Equity & Mergers & Acquisitions

Nishith Desai Associates

Simone is the Co-Head of Mergers & Acquisitions practice and Corporate Governance practice at the firm. Simone’s practice focuses on mergers and acquisitions, private equity and venture capital investments, domestic and international, and has advised a wide spectrum of clients, across several sectors. She has represented clients on complex acquisitions and investments, debt and mezzanine funding and financing arrangements. She advises clients on overseas investment, competition law matters, foreign investment, PIPE deals, and capital market related issues. Simone has also advised many listed companies and board on issues of corporate governance.


Senior member, Private Equity & Mergers & Acquisitions

Karan is a senior member of the M&A and Private Equity practices at Nishith Desai Associates. He also co-heads the firm’s banking finance practice. Karan focuses largely on domestic and cross border M&As, fund investments, structured finance transactions and on providing regulatory and general corporate advice. With a specific industry focus on the banking and financial services sector, he has advised clients across several jurisdictions and sectors.


Member, International Litigation & Dispute Resolution Practice

Arjun Gupta is a Member of the International Litigation & Dispute Resolution Practice at Nishith Desai Associates. He holds a Bachelors degree in law from National University of Juridical Sciences, Calcutta. He is admitted to the Bar Council of Maharashtra & Goa. He represents clients in a wide-range of services with a special focus on cutting edge cross-border and complex litigations and international commercial arbitrations. He is also an integral member of the Insolvency and bankruptcy practice.