Dealing with pandemic: Buyers, sellers need to reassess impact of COVID-19

The government recently extended the bidding deadline for Air India from March 17 to April 30. That could well be a portent of the shape of things to come in the deal-making world, stuck by the coronavirus (COVID-19) pandemic. Facing the heat are distressed M&A activities in projects going through the Corporate Insolvency Resolution Process (CIRP). 

Travel restrictions and other clampdown measures make time-critical deal-making a challenge, leading to legal and regulatory complications, say experts.

“The committee of creditors of many companies undergoing the CIRP are contemplating approaching the National Company Law Tribunal (NCLT) for the extension of the time limit, largely