NLUD Wins 1st RGNUL National Corporate Liquidation Process Competition
Law School Correspondent
24 Feb 2026 8:48 PM IST
Rajiv Gandhi National University of Law (RGNUL), through its Insolvency and Bankruptcy Law Division under the Centre for Business Laws and Taxation, successfully hosted the 1st RGNUL National Corporate Liquidation Process Competition. The competition brought together leading law schools to deliberate on complex issues arising under the Insolvency and Bankruptcy Code, 2016.
The final round revolved around liquidation proceedings, requiring participants to address issues concerning Section 52 of the IBC, Regulation 21A of the Liquidation Regulations, the effect of an Inter-Creditor Agreement, and the interplay between the IBC and attachment proceedings under the Prevention of Money Laundering Act.
The Final Bench comprised Mr. Vaijayant Paliwal, Partner at Shardul Amarchand Mangaldas & Co., and Ms. Shivani Sinha, Partner at Phoenix Legal. The arguments focused on the statutory requirements for a secured creditor seeking to realise its security interest independently during liquidation, the consequences of non-compliance with procedural timelines, and the doctrine against inconsistent conduct.
Teams advanced detailed submissions on the scope of Section 52, the mandatory nature of Regulation 21A, and whether participation in the liquidation process could amount to a waiver of independent enforcement rights. The Bench extensively examined the limits of NCLT jurisdiction in reviewing attachments under the PMLA and the extent to which Section 32A of the IBC could shield assets during liquidation.
The Valedictory Ceremony marked the culmination of the competition. The event was graced by the members of the Final Bench, who addressed the participants and reflected on the importance of procedural discipline and doctrinal clarity in corporate liquidation. Faculty members and organisers were acknowledged for their role in conceptualising and executing the competition.
The winners of the 1st RGNUL National Corporate Liquidation Process Competition were from National Law University, Delhi (NLUD). The team was awarded a cash prize of ₹15,000 and an internship at Shardul Amarchand Mangaldas & Co. for their outstanding performance and comprehensive understanding of the corporate liquidation framework.
The runners-up trophy was secured by the team from O.P. Jindal Global University, along with a cash prize of ₹7,000 and an internship at Insolvency Law Academy. The Best Speaker award was conferred upon Ms. Kajal Bang from O.P. Jindal Global University for her exceptional advocacy.
The ceremony concluded with a formal Vote of Thanks and a photography session, bringing the inaugural edition of the competition to a successful close. The event reaffirmed RGNUL's commitment to fostering rigorous engagement with contemporary insolvency law and strengthening academic discourse on corporate liquidation in India.