The National Company Law Tribunal (NCLT) will admit a case only if the twin requirements of “debt” and “default” are established under the Insolvency and Bankruptcy Code (Amendment) Act, 2026, legal experts said on Friday.
The new features of the amended Act, along with competition law developments, were discussed at a media roundtable on the Insolvency and Bankruptcy Code and Competition Law in India, organised by law firm Khaitan and Co.
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Prateek Kumar and Siddharth Srivastava, both partners at the firm, said that under the amended provisions, a security interest can only be created through an agreement or arrangement between two…