Entries by Barsha Dikshit

Statutory dues cannot override section 53: Supreme Court clarifies the applicability of Rainbow ruling

July 29, 2023 /0 Comments/in , , /by

– Barsha Dikshit | resolution@vinodkothari.com Introduction  Section 53 of Insolvency and Bankruptcy Code, 2016 (‘IBC’) has created a waterfall citing priority of dues. Whether it is distribution in liquidation process or resolution plan – both processes would need to honour the priorities under Section 53 of IBC. However, in September, 2022, in State Tax Officer […]

Fast Track Merger- finally on a faster track

May 18, 2023 /0 Comments/in , /by

– Barsha Dikshit, Partner | resolution@vinodkothari.com The objective of promoting ‘ease of doing business in India’ had made the Ministries introduce some really momentous concepts and corresponding changes in law. One of such moves taken by the Ministry of Corporate affairs (‘MCA’), was introduction of section 233 of the Companies Act, 2013 (‘Act’) dealing with […]