insolvency and bankruptcy

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.

Insolvency and Bankruptcy Abhirup Dasgupta

TCLF ONE-ON-ONE| Ep.8 Mr Abhirup Dasgupta: Understanding Insolvency & Bankruptcy Code

In the latest episode of TCLF ONE-ON-ONE, Abhirup Dasgupta (Partner, HSA Advocates) talks about his journey in the profession, his experience of being a part of the first insolvency petition in India, the major amendments and changes in the insolvency law over the years and the recent Ordinance which has brought about various changes to the IBC in light of the COVID-19 Pandemic.