Substantive consolidation is here in India! What does this mean for lending and Restructuring Transactions Past, Present and Future?

After being the first ever instance of procedural consolidation under the Insolvency and Bankruptcy Code, 2016 (IBC), the corporate insolvency resolution process (CIRP) for the Videocon group has yet again witnessed a landmark order on 8 August 2019, when the Mumbai bench of the National Company Law Tribunal