From Financial Distress To Economic Recovery: An Introduction To The Insolvency And Bankruptcy Regime In India

Written by: Riya Singh, B.B.A.LL.B (4^th Year ), School of Law, Lovely Professional University

Abstract

India's financial and economic system is strengthened in large part by the country's Insolvency and Bankruptcy Regime. The purpose of this research paper is to examine the development, structure, and efficacy of the Insolvency and Bankruptcy Code (IBC), 2016, which was implemented in order to simplify and combine legislation pertaining to liquidation and insolvency. The study looks at how the IBC has aided in economic recovery, increased creditor trust, and improved the debt resolution process. It also covers the main implementation issues, such as capacity limitations, delays, and complicated legal issues. The report illustrates the advancements made under the IBC and makes recommendations for ways to improve the efficiency and transparency of the insolvency process by examining recent reforms and case studies. All things considered, this study sheds light on how India's bankruptcy and insolvency laws support both financial stability and a positive business climate

Keywords: Corporate Insolvency Resolution Process (CIRP), Creditor’s Rights and Debtor Protection, Economic and Financial Stability, Judicial Interpretation under IBC, Comparative Insolvency Framework

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Volume 2 | Issue 1