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When Creditors Decide and Courts Defer: The Quiet Retreat of Judicial Power under India’s Insolvency Regime

The Insolvency and Bankruptcy Code, 2016 (“IBC”) is a significant change in the Indian insolvency law because it unites many different fragmented provisions into a single comprehensive body of law, designed to protect creditors through a timely and efficient resolution process, as well as to maximise value for creditors and solve the problems of insolvent…

Revisiting Corporate Criminal Liability in India: Between Entity Punishment and Individual Capability

The case against Satyam Computer Services Limited in 2009 demonstrates the contradictions present in India’s corporate criminal justice system. The company’s founder, B. Ramalinga Raju, was imprisoned for committing fraud; at the same time, however, after its dissolution, shareholders were left without compensation for their losses, resulting in incomplete corporate accountability. Likewise, in 2019 SEBI…