Debtwire Radio

Misha, a New Delhi-based dispute resolution partner at India’s Shardul Amarchand Mangaldas, joins Debtwire Asia senior editor Chaim Estulin to discuss the development of the country’s nearly year-old Insolvency & Bankruptcy Code. This podcast was recorded on 24 November, one day after the Indian government tightened the ability of a promoter to become the white knight of his or her own bankrupt company. Misha has increasingly focused on corporate insolvency and restructuring following India’s introduction of the new law, particularly after the Reserve Bank of India compelled banks to push into bankruptcy the 12 largest corporate defaulters over the summer. Shardul Amarchand, one of India’s leading law firms, is advising key parties in eight of the 12 cases, including for the restructuring of Bhushan Steel, Amtek Auto and Lanco Infratech. 2:11 Surprisingly smooth implementation; 8:18 New restrictions on promotor as rescuer; 11:40 ongoing sales process; 15:15 Rehabilitating company versus management; 18:00