Akil Hirani quoted by BQ Prime on the resolution of the insolvent Reliance Capital Ltd.

by | Jul 5, 2022

The resolution of insolvent Reliance Capital Ltd. may face further delays due to a dispute with Credit Suisse AG.

Akil Hirani, Managing Partner, was quoted in BQ Prime on the topic.

“Since the Insolvency & Bankruptcy Code prescribes that all matters relating to an insolvent company are to be clubbed under the NCLT, that is most likely the next step. Reliance Capital’s creditors may look to challenge the pledge by claiming that there was a breach of contract”, he said.

Please follow this link to read the full article.

More News

India – Employment Update

Under the Industrial Disputes Act, 1947, normally, the termination of a fixed term contract does not elicit payment of retrenchment compensation to the contractual worker, unlike the termination of an open-ended employment agreement. In the recent case of Jamnagar...

read more

Withdrawal of Personal Data Protection Bill

On August 3, 2022, the Indian government withdrew the Personal Data Protection Bill (the “Bill”), which was first introduced in Parliament on December 11, 2019, and had been thoroughly analysed by a Joint Committee of Parliament (“JCP”). To a Bill which had 99...

read more