This is the story of the first Indian insolvency proceeding to be granted recognition by the Singapore Court under the UNCITRAL Model Law on Cross-Border Insolvency (“Model Law”). This recognition, besides facilitating the challenging cross-border asset recovery, has also opened the doors for deeper insolvency cooperation between India and Singapore.
What prompted the Resolution Professional to knock on the doors of the Singapore Court and what does this decision mean for Indian businesses that may want to avail themselves of solutions offered by Singapore’s restructuring regime?
Compuage Infocom Limited (“CIL”), an Indian technology distribution company, incorporated under the Companies Act, 1956 (now Companies Act, 2013) of…
