MDP Legal, Advocates & Solicitors

Cheers to a new year of justice, growth, and success. MDP Legal wishes its clients and partners a prosperous 2025 filled with strength, solutions, and success. Together, we’ll continue to make an impact! #MDPLegal

MDP Legal acted as legal advisors for the lenders for transfer of their stressed loan exposure aggregating to INR 1226.13 Crores. #MDPLegal

Wishing you a Merry Christmas from the entire MDP Legal Family to yours, may it be filled with joy, peace, and meaningful connections. May the holiday season bring you warmth and new opportunities for growth in the year ahead! #MDPLegal

MDP Legal successfully represents Central Bank of India ("CBI") in an interlocutory application filed by the personal guarantor in the Company Petition filed by CBI #MDPLegal

MDP Legal successfully represents ACC Ltd. in a Special Leave Petition filed before the Hon’ble Supreme Court and secured a stay against the Order passed by the Hon'ble Bombay High Court. #MDPLegal

MDP Legal represented Bank of Baroda, the financial creditor and successfully secured the admission of the personal insolvency petition against the personal guarantor in Alfara Infra Projects Private Limited. #MDPLegal

MDP Legal acted as counsel for Warner Music India for the release of their new song "Aankh" by Sunidhi Chauhan, produced by Rusha and Blizza featuring Sanya Malhotra. Our team, Varun Gopala Krishnan, Niharika Tiwari and Ishan Puranik provided comprehensive legal and transactional support for the project. Stream the much awaited song on 5th December 2024:! #MDPLegal

Our team at MDP Legal successfully represents the Resolution Professional of Setubandhan Infrastructure. Our team, led by Mr. Yash Dhruva (Partner) and Ms. Niyati Merchant (Associate Partner), represented the Resolution Professional in a significant matter before the Hon'ble Tribunal. The application filed by Union Bank of India challenging the Resolution Plan was dismissed, with the Tribunal affirming that the allocation of payments made to financial creditors of the same class on the basis of security interest was in line with the provisions of the Insolvency and Bankruptcy Code, 2016. This ruling reinforces the principles of commercial wisdom and equitable treatment under the Insolvency and Bankruptcy Code, 2016. #MDPLegal

Jet Airways - Supreme Court’s Landmark Judgment on Insolvency Resolution The much-awaited insolvency resolution of Jet Airways has concluded with the Supreme Court ordering liquidation on November 7, 2024. The judgment serves as a wake-up call for all stakeholders in the insolvency process and highlights critical gaps in the Insolvency and Bankruptcy Code (IBC), 2016. Here’s a summary of the key takeaways from this pivotal decision: Failed Resolution Plan Implementation: The Jalan-Kalrock Consortium, as the Successful Resolution Applicant (SRA), failed to implement the approved resolution plan, leading to the court’s decision for liquidation under Section 33(3) of the IBC. Key Judicial Observations: Performance Bank Guarantee (PBG): Adjusting the PBG for payments under the plan was deemed erroneous by the NCLAT and overturned by the SC. No Modifications Post-Approval: Affidavits by lenders cannot modify or alter an approved resolution plan, reaffirming principles laid out in the Ebix judgment. Time-Bound Resolution: Delays in plan implementation undermine the IBC’s objectives. Extensions should not be granted mechanically without evaluating the consequences. Prioritizing Liquidation: If plan execution fails, timely liquidation is preferred over prolonged resolution, ensuring no further value erosion of the debtor’s assets. Shortcomings in the IBC Framework: NCLT/NCLAT delays in case disposal create uncertainty and jeopardize stakeholders’ interests. Lack of domain expertise among tribunal members hinders effective adjudication of complex insolvency matters. Inefficiencies in listing urgent cases and disregard for higher court orders compromise the integrity of the resolution process. Recommendations for Stakeholders: Clear, unambiguous language in resolution plans to avoid disputes. Monitoring Committees, including CoC members and the Resolution Professional, must ensure seamless handover and implementation. Insolvency courts must exercise discretion judiciously when granting timeline extensions. CoCs should not hesitate to recommend liquidation to prevent prolonged uncertainty. The Supreme Court has once again emphasized the core objective of the IBC, ensuring swift and efficient resolutions to protect stakeholder interests. This judgment urges all parties involved to prioritize time-bound action, uphold the integrity of the process, and avoid rendering the IBC obsolete. #MDPLegal

MDP Legal acted as the production counsel for The Rana Daggubati Show, an original Telugu Talk Show featuring candid conversations with Tollywood’s biggest stars, including Dulquer Salmaan, Naga Chaitanya, and S.S. Rajamouli. Our team, led by Senior Associates Anjana Menon and Varun Gopala Krishnan along with Associates Karisma Shah and Ishan Puranik provided comprehensive legal and transactional support for the project. Check out more about the much-awaited talk show here: https://lnkd.in/dU57YZ6H #MDPLegal