Applicability of the IBC to public sector enterprises: The case of Hindustan Antibiotics Ltd

In this article, Sudipto Banerjee, Karthik Suresh and I, revisit the HAL dispute and examine the position of PSEs within the ambit of the IBC. We argue that creditors of PSEs (or PSEs themselves) should be able to access the IBC. Removing PSEs from the IBC's purview may lead to delays in resolution, and may close an important route which the government could use for disinvestment.

(The article first appeared on the Leap Blog, 18 February 2020)