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The growth in international trade has amplified cross-border insolvency challenges, highlighting the need for effective regulation.
Expert Recommendations
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Reciprocal Agreements: Bilateral arrangements between countries under Section 234 of the IBC to mutually recognize and enforce insolvency proceedings.
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Part Z: A proposed framework under the IBC, 2016, incorporating the UNCITRAL Model Law on Cross-Border Insolvency to govern recognition, cooperation, and resolution of international insolvency cases. |
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Key Cases of Cross-Border InsolvencyJet Airways (India) Limited Case (2019)
Videocon Industries Limited Case (2019)
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UNCITRAL Model Law on Cross-Border Insolvency
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A robust cross-border insolvency framework is critical for India’s economic stability, global trade participation, and foreign investment. Adopting the UNCITRAL Model Law through Part Z will streamline international insolvency processes, enhance judicial cooperation, and align India with global best practices. Swift implementation and capacity-building are essential to address current challenges.
Manipur Governor Ajay Kumar Bhalla held a security review meeting and suggested the use of the National Security Act (NSA), 1980, to detain miscreants and troublemakers for up to a year without trial.
About United National Liberation Front (UNLF)It is a separatist insurgent group active in the state of Manipur in Northeast India.
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About National Security Council
Members of NSC
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Maharashtra reported India’s first H5N1 avian influenza case in animals, marking a significant wildlife health concern.
Recently a rare golden langur was killed in Assam’s Bongaigaon sparking protests demanding protection for the endangered species.
Income inequality in India improved in 2022-23 after worsening during the Covid-19 pandemic (2020-21), reflecting the impact of effective post-pandemic recovery measures.
Union Transport and Highways Minister described the completion of a portion of the Banihal Bypass in Jammu and Kashmir’s Ramban district as a milestone in strengthening “national security logistics” and enhancing “tourism prospects of the region”.
Name | Range | Important Notes |
Aghil Pass | Karakoram Range | Strategically significant pass near the India-China border. |
Karakoram Pass | Karakoram Range | A vital route on the ancient Silk Road, located on the boundary between Ladakh (India) and China. |
Burzil Pass | Great Himalayan Range | Connects Srinagar to Gilgit and serves as a historic route linking India to Central Asia. |
Banihal Pass | Pir Panjal Range | Links Jammu with the Kashmir Valley; the Jawahar Tunnel and NH44 traverse this pass. |
Zoji La | Zanskar Range | NH1 passes through this pass, connecting Srinagar and Leh, crucial for defense and tourism. |
Khardung La | Ladakh Range | One of the highest motorable passes in the world, connects Shyok and Nubra Valley. |
Chang La | Ladakh Range | Gateway to the Pangong Lake region and vital for connecting regions in Ladakh. |
Qara Tag La | Karakoram Range | Strategic significance due to its location near the northern frontier. |
Lanak La | Ladakh Range | Key pass on the eastern front of Ladakh near the India-China border. |
Imis La | Ladakh Range | Important for local trade and movement in the region. |
Mintaka Pass | Karakoram Range | A historically significant pass on the ancient Silk Route, connecting South Asia to Central Asia. |
Project Name | Description |
Banihal Bypass | A 2.35-km bypass on the Ramban-Banihal section of NH-44 with 4 viaducts and 3 culverts.
Connecting Jammu and Srinagar. |
Jammu-Srinagar Highway | A ₹16,000-crore 4-laning project with 10 tunnels (21.5 km) and viaducts, creating an all-weather route. |
Srinagar Semi Ring Road | A ₹2,919-crore project spanning 60 km with culverts, flyovers, and bridges across five districts in Kashmir Valley. |
Srinagar-Baramulla-Uri Highway | ₹823.45-crore project upgrading traffic flow with bypasses and flyovers on the Narbal-Baramulla and Baramulla-Uri stretches. |
Chenani-Nashri Tunnel | A 9.28-km-long tunnel between Chenani and Nashri. |
Z-Morh Tunnel | A 6.5-km-long tunnel connecting Gagangir to Sonamarg. |
Zoji La Tunnel | A 13.5-km-long tunnel under construction on NH1 connecting Srinagar and Leh. |
The Supreme Court in a recent order held that the CBI does not require the sanction of a state government to register an FIR under a Central legislation against a Central government employee.
About The Central Bureau of Investigation (CBI)
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The Union Shipping Ministry has proposed new infrastructure additions to the ₹72,000 crore mega-project in Great Nicobar.
Recently , Tamil Nadu Chief Minister has announced a $1-million prize for experts or organizations that can successfully decipher the scripts of the Indus Valley Civilisation in a comprehensible manner.
Context: The UK’s Ministry of Defence (MoD) unveiled a revolutionary quantum atomic clock developed at the Defence Science and Technology Laboratory (DSTL).
About atomic clock
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Context: Department of Financial Services (DFS), Ministry of Finance, launched the revamped e-auction portal ‘Baanknet’ in New Delhi.
Context: The Union Minister of Commerce & Industry has released the “Logistics Ease Across Different States (LEADS) 2024” report.
Groups | Achievers | Fast Movers | Aspirers |
Coastal Group | Gujarat, Karnataka, Maharashtra, Odisha, Tamil Nadu | Andhra Pradesh, Goa | Kerala, West Bengal |
Landlocked Group | Haryana, Telangana, Uttar Pradesh, Uttarakhand | Bihar, Himachal Pradesh, Madhya Pradesh, Punjab, Rajasthan | Aspirers: Chhattisgarh, Jharkhand |
North-Eastern Group | Assam, Arunachal Pradesh | Meghalaya, Mizoram, Nagaland, Sikkim, Tripura | Manipur |
Union Territories | Chandigarh, Delhi | Fast Movers: Dadra and Nagar Haveli and Daman and Diu, Jammu and Kashmir, Lakshadweep, Puducherry | Andaman and Nicobar Islands, Ladakh |
Context: The Toda Tribes most important festival of the year, known as Modhweth, was celebrated at the Muthanadu Mund, in the Nilgiris to mark the New Year.
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