KAY & Partners — Insights
Commentary on recent judgments and regulatory developments across our practice areas. Analysis is factual and educational. Nothing here constitutes legal advice.
The Investor's Test
The Supreme Court Has Drawn a Line Between Homebuyers and Investors Under the IBC
When Parliament amended the Insolvency and Bankruptcy Code in 2018 to bring homebuyers within the definition of financial creditors, the move was deliberately protective. Thousands of individual purchasers had committed …
Read analysis →The Merger Queue
A Creditor Committee Voted on a Merger Before the Competition Regulator Could. The Supreme Court Said That Order of Events Matters.
Hindustan National Glass and Industries Limited had once been the dominant name in India's container-glass industry. By the time the insolvency proceedings concluded, it had shed that status along with most else. The res…
Read analysis →The Real Estate Rescue
One Project Defaults. That Does Not Mean the Entire Developer Goes Into Insolvency. NCLAT Is Clear.
A real estate developer with multiple active projects faces an insolvency petition from homebuyers in one stalled development. The NCLT admits it. Suddenly, every other project — with its own buyers, its own lenders, its…
Read analysis →The Rupee Valuation
A Resolution Plan Valued Fraud Recoveries at Rs. 1. The Supreme Court Said the CoC Was Entitled to Do Exactly That.
The resolution of DHFL — once among India's largest housing finance companies, and one of its most spectacular corporate failures — produced a plan that assigned all future recoveries from fraudulent transactions to Pira…
Read analysis →The analyses published here are prepared by the editorial team of KAY & Partners and are intended solely as general commentary on judicial and regulatory developments. They do not constitute legal advice and should not be relied upon as such. Bar Council of India Rules prohibit advocates from soliciting work or advertising in a manner that implies specialisation or past success. Nothing on this page constitutes a testimonial, endorsement, or guarantee of outcome.