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The Competition and Commercial Law Review
- Oct 18, 2020
- 5 min
SET OFF DURING CIRP: AN ANALYSIS
[Akshay Sharma is a Delhi-based lawyer and Lavanya Pathak is a final-year student at National University For Study And Research In Law, Ranchi] Recently, the National Company Law Appellate Tribunal (NCLAT) on 13.07.2020 in the case of Vijay K. Aiyer v. Bharti Airtel Ltd. held that dues cannot be set off during the Corporate Insolvency Resolution Process (CIRP) of a Corporate Debtor under the Insolvency and Bankruptcy Code, 2016 (IBC Code). This being a much-required clarifica
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The Competition and Commercial Law Review
- Oct 4, 2020
- 7 min
SECTION 7 OF IBC VIS-À-VIS ARBITRATION CLAUSE: A STEP IN THE WRONG DIRECTION BY NCLT
[Pranay Bhattacharya is a fourth-year student at Maharashtra National Law University, Aurangabad] A landmark development by National Company Law Tribunal (NCLT), Mumbai in Indus Biotech Private Limited v. Kotak India Venture Fund, whereby a Section 7 application (Initiation of corporate insolvency resolution process by the financial creditor) under Insolvency and Bankruptcy Code, 2016 (IBC) have been referred to Section 8 (Power to refer parties to arbitration where there is
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