The Mirage Of Speedy Liquidation: Critical Analysis Of The IBC Liquidation Framework

Written by: Sanskrati Varshney (4^th year BA.LLB) , Lovely Professional University

&

DR. Mohd. Rafiq Dhar (Assistant Professor), School of Law , Lovely Professional University

Abstract

Corporate liquidation is a key area of corporate law intended to address insolvency and safeguard the interests of stakeholders. In India, the liquidation process has developed with legislative reforms, primarily under the Insolvency and Bankruptcy Code, 2016 (IBC), which supplanted dispersed laws to consolidate insolvency resolution and liquidation processes. Legal reforms notwithstanding, practical issues, delays, and pitfalls continue to mar the process, impacting creditors, shareholders, and the overall economic ecosystem. This article critically analyzes the procedures, legal regime, pitfalls, and functional issues of corporate winding-up in India.

Keywords: Corporate Liquidation, Insolvency and Bankruptcy Code, Liquidator, NCLT, Resolution Professional, Asset Distribution, Judicial Interpretation

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Volume 2 | Issue 1