The HBN Dairies and Allied Industries case is a well-known case in relation to insolvency proceedings where collective investment schemes (CIS) are involved. An interesting aspect of this case is primacy of the Insolvency and Bankruptcy Code (IBC) vis-à-vis the Securities Exchange Board of India (SEBI). Another aspect is the classification of investments in CIS as a financial debt.
In this interview, our guest, Manisha Chaudhary discusses her role as a lawyer in this case and the challenges that she faced during the proceedings. She also talks about the filing process involved in this case, and the challenges in that as well.
It is said that the world is in a state of bankruptcy, that the world owes the world more than the world can pay.Ralph Waldo Emerson
Our guest, Manisha Chaudhary discusses the well-known HBN Dairies and Allied Industries case pertaining to the classification of investment in collective investment schemes (CIS) as a financial debt. This case is also important in terms of establishing the primacy of IBC over SEBI. As a lawyer involved in this matter, she makes an insightful discussion on her role in this case and the filing process involved in this CIS matter.
If you are a law student or a young professional, you will find this interview enriching, since you will gain practical insight into the HBN Dairies and Allied Industries insolvency matter and will also learn about the hurdles that may arise in handling similar matters. Since insolvency laws are evolving in India at present, watching this interview will help you stay updated on the latest development in relation to filing CIS matters and the classification of such investments as a financial debt.
Manisha Chaudhary is the Managing Partner at UKCA and Partners, a full-service law firm,New Delhi. She holds a Master of Laws from the prestigious Ivy League Cornell University Law School, US. Her forte lies in the field of Corporate, Commercial and Insolvency Litigation, Negotiations, Corporate Restructuring (M&A), Private Equity and Transactional Law. She has also been handling matters relating to Capital and Financial Markets Regulations before various authorities and is also developing a niche practice in Competition Law. She regularly appears before various tribunals such as the NCLT, DRT, CCI, NCLAT, SEBI, SAT, High Courts of various states and the Supreme Court of India. She is also on the panel on various government authorities including co-operative banks, PSUs and government undertakings and departments. Under Manisha’s leadership, the firm UKCA, has been ranked by IFLR1000 and AsiaLaw for the work done by UKCA in the field of Corporate M&A and Banking & Finance.
Dr Charu Mathur has a rich and diverse expertise in corporate, commercial, civil, criminal and constitutional law matters. She is an Advocate on Record, Supreme Court of India. She has represented parties which include cricketing bodies and educational institutions like IIT Jodhpur, NLU Jodhpur, BPUT Orissa, MPUAT Rajasthan, private engineering and medicine colleges of Gujarat and Orissa.