Insolvency of “Group Companies”
by Anuja Pethia* and Rishabh Govila**
Group companies
Khaitan & Co advises Kotak Investment Advisors Ltd for the subscription of debentures issued by Padmanidhi Properties Private Limited
DEAL DETAILS Kotak Investment Advisors Limited | Subscription of debentures Khaitan & Co advised Kotak Investment Advisors Limited for the subscription of
Order of stay/moratorium under the Companies Act, 2013 prohibits the initiation of any proceedings; Parties cannot be referred to Arbitration: Delhi High Court
The Delhi High Court ruled that the moratorium granted by the NCLAT, staying the institution of suits and proceedings against the Corporate Debtor, after the resolution process was initiated against it under Sections 241 and 242 of the Companies Act, 2013, was akin to an order of moratorium passed under Section 14 of the Insolvency and Bankruptcy Code, 2016.