Supreme Court Clarifies “Acknowledgment of Debt” Principles under IBC Limitation: What Legal & Business Leaders Need to Know

The Supreme Court’s recent ruling in IL&FS Financial Services Ltd. v. Adhunik Meghalaya Steels Pvt. Ltd. sets a significant precedent in Indian insolvency and limitation law under the IBC. 🔎 Key Insights: The Court held that entries in a company’s balance sheet—even without a creditor’s specific name—can serve as a valid acknowledgment of debt under […]

🚨 Enhancing CIRP Integrity: A Critical Analysis of IBBI’s Proposed Regulatory Changes

The Insolvency and Bankruptcy Board of India (IBBI) has released a Discussion Paper on Measures to Enhance Integrity of the Corporate Insolvency Resolution Process (CIRP), inviting public comments by 27 August 2025. IBBI has proposed following changes in the Regulations for achieving above objectives: ✅ Formal CoC Deliberations on Section 29A Eligibility– Mandating recorded discussions […]

Enhancing integrity of the Corporate Insolvency Resolution Process- IBBI invites comments on their discussion paper

The Insolvency and Bankruptcy Board of India (IBBI) has released a significant discussion paper focused on enhancing the integrity of the Corporate Insolvency Resolution Process (CIRP). The paper puts forth important regulatory proposals such as: => Formalizing the Committee of Creditors’ (CoC) deliberations and responsibilities around Section 29A eligibility, thereby strengthening collective due diligence and […]

🚀 IBC 2025: The Biggest Shake-Up Yet – Faster Resolutions, Global Alignment, and Digital Transparency!

The Insolvency and Bankruptcy Code (Amendment) Bill, 2025, proposes the most comprehensive overhaul since the IBC’s inception. Key changes include: ✅ Creditor-Initiated Out-of-Court Insolvency (CIIRP) – faster, NCLT-free resolution for qualifying debtors. ✅ Group & Cross-Border Insolvency – aligning India with global best practices, enabling coordinated resolutions and UNCITRAL-style recognition. ✅ Tighter Timelines & Limited […]

AIPE Insolvency & Bankruptcy Conclave 2025

Join us for an insightful discussion with industry leaders, insolvency professionals, and legal experts as we delve into the evolving landscape of insolvency practice and corporate governance. ✅ Registration is now open through Google Form – secure your spot today! 🔗https://lnkd.in/g2hJaz_h Don’t miss this opportunity to connect, learn, and exchange perspectives with peers and thought leaders. Event […]

Happy Independence Day!

🇮🇳 Celebrating the Spirit of Independence 🇮🇳 This Independence Day, we at AIPE honor not just the freedom hard-won by our nation, but also the responsibility that comes with it. Freedom is not merely the absence of constraints; it is the power to act with integrity, to innovate fearlessly, and to contribute meaningfully to the growth of our society […]

The NCLAT ruling in Extol Industries and Xyron Technologies emphasizes the legal implications of acknowledging debt through balance sheet entries.

The court’s decision highlights that persistent inclusion of debt in audited balance sheets from FY 2015-16 to FY 2022-23 serves as a valid acknowledgment under Section 18, resetting the limitation clock as established in previous Supreme Court rulings. Key principles from the Supreme Court’s Bishal Jaiswal case underscore that a clear and conscious admission of […]

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