Once considered a “future trend,” mediation is now becoming a vital tool in managing all disputes. The Insolvency and Bankruptcy Code, 2016 (“the IBC”) lacks specific provisions for mediation in insolvency matters.
The Judicial forums including Hon’ble NCLAT, and Ld. NCLT on request of Parties to proceedings allow deferment of the proceedings for settlement. In the case of Parvinder Singh v. Intec Capital Ltd. & Anr. Company Appeal (AT) (Insolvency) No. 968 of 2019, the Hon’ble NCLAT referred the matter for mediation to Hon’ble Mr. Justice (Retd.) A.K. Sikri. The NCLAT further stated that the settlement terms recorded by the mediator would…
