Debt

Analysis Of The Interplay Between Insolvency And Cryptocurrency

In this post, the authors aim to analyse the interplay between Insolvency and Cryptocurrency by elucidating the manner in which Insolvency and Bankruptcy Code of 2016 would be applicable in the event companies that possess crypto assets undergo an insolvency process.

Analysis Of The Interplay Between Insolvency And Cryptocurrency Read More »

Reflection of Debt in a Balance Sheet

Reflection of Debt in a Balance Sheet: Acknowledgment or a Statutory Compliance?

In this post, the author critically examines the decision of the Hon’ble NCLAT in V. Padmakumar v. Stressed Assets Stabilisation Fund & Anr. The author differs from the majority’s widely debated view holding that the reflection of debt in the balance sheet of the Corporate Debtor does not amount to an acknowledgment under Section 18 of the Limitation Act, 1963, and argues that sole reliance on Section 92 of the Companies Act, 2013 is misplaced and the implication of the balance sheet along with the Directors’ Report and financial statement must be considered holistically.

Reflection of Debt in a Balance Sheet: Acknowledgment or a Statutory Compliance? Read More »