One of our landmark cases was representing the Reserve Bank of India (RBI) and the administrator of Dewan Housing Finance Corporation (DHFL) in India's first ever insolvency resolution process for a systemically important financial institution. This was a market first in the financial services sector under the Insolvency and Bankruptcy Code, 2016 (IBC). We advised on all aspects of the restructuring plan, including negotiations with creditors, resolution applicants, regulators and other stakeholders. We also assisted in drafting and finalizing the transaction documents and obtaining the necessary approvals from the courts and tribunals.

Another notable case was assisting the resolution professional of Jet Airways and his transaction advisor, Grant Thornton, with India's first and largest corporate insolvency resolution process (CIRP) for an airline company. We helped in managing the complex legal issues arising from the cross-border nature of the business, the multiple claims from various creditors, employees, customers and regulators, and the sale of assets and business to a consortium of investors. We also advised on various litigation matters related to the CIRP.

We have also been involved in advising borrowers and lenders in the context of amendments to the IBC and new RBI guidelines introduced to combat the distress arising from the COVID pandemic. We have helped our clients in exploring various options for restructuring their debts, such as Corporate Debt Restructuring (CDR), Joint Lenders Forum (JLF), Strategic Debt Restructuring (SDR), Scheme for Sustainable Structuring of Assets (S4A) etc. We have also assisted our clients in devising and implementing exit strategies from stressed assets, such as strategic sale, demerger, slump sale and auction.

We hope you enjoyed reading this post and learned something new about restructuring and insolvency law in India. If you have any questions or comments, please feel free to contact us. We would love to hear from you and assist you with your legal needs. Stay tuned for more updates from our blog!