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INSOL has published its 23rd Technical Paper. It is entitled titled "Role of Corporate Boards - Insolvency and Corporate Governance Landscape in India". The paper was written by Mr. Tejas Karia, Partner; Mr. Deepesh Aneja, Senior Associate; Mr. Nitesh Jain, Senior Associate; and Ms. Aradhana Lakhtakia, Associate, all of Amarchand & Mangaldas & Suresh A. Shroff & Co. Advocates and Solicitors in India. The full paper can be viewed here.
As INSOL note, "This paper provides an overview of the best corporate governance practices and looks at the adverse effects experienced by Indian companies that fail to implement such practices. The paper also examines the legislation that governs corporate insolvency and discusses the relevant provisions that apply to corporate governance as amended by the Indian Companies Act and compares these with the relevant provisions under the listing agreement of the New York Stock Exchange, Nasdaq and Sarbanes Oxley Act 2002, and the UK Financial Services Bill to the extent it is applicable."
"This is the ultimate statement of where the law on IVAs is to be found in our great common law...