Practice Areas

Follow us

Delhi HC Issues Notice on Challenge to Centre’s Notification Of IBC Part III Only as Regards Personal Guarantors to Corporate Debtors

The Delhi High Court issued notice on a plea challenging the November 15, 2019 gazette notification bringing into effect certain provisions of Part III of the IBC, i.e., Insolvency Resolution and Bankruptcy For Individuals and Partnership Firms from December 1, 2019. Part III of IBC pertains to matters relating to fresh start, insolvency and bankruptcy of individuals and partnership firms where the amount of default is not less than one thousand rupees. By way of the gazette notification, the part relating to fresh start has not been notified. The only part that has been notified relates to the Personal Guarantors to the Corporate Debtors and not the other provisions of Part III.

Asia Law Offices advised a major transnational strategic collaboration between its client, UAE-Based Pharmax Pharmaceuticals, and Swiss pharma major Acino Pharmaceuticals.

ALO represented Pharmax in the structuring and closure of entire transaction documents of the significant collaboration.

The collaboration framework extends to licensing, manufacturing, and supply of Acino formulations within the gastroenterology and the cardiovascular space throughout the Middle East and Africa.