Lack of judicial capacity, incompetency, and frivolous litigation in the National Company Law Tribunal (NCLT) have led to decreased values and increased timelines for debt recovery under India’s bankruptcy code, driving financial creditors and prospective debt buyers away from India’s foremost stressed asset resolution scheme.

Lakshmikumaran & Sridharan has hired M&A expert Jivesh Chandrayan and tax specialist Sudin Sabnis as partners in New Delhi and Pune, respectively. Chandrayan joins from HSA Advocates, while Sabnis was in an in-house role in the Munich office of German giant Siemens.