Browsing by Author "Mishra, Shivani"

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    Balancing Creditors’ and Debtors’ Rights under Insolvency and Bankruptcy Code: A Critical Study
    (National Law University and Judicial Academy, Assam, 2025-06) Mishra, Shivani
    The Insolvency and Bankruptcy Code, 2016 (IBC) was enacted to consolidate and reengineer India's haphazard insolvency system to set in motion a time-bound resolution of distressed assets with the idea that maximum recovery will accrue to creditors. The Code's operational framework also reveals a structural imbalance, favoring financial creditors through the Committee of Creditors (CoC), with operational creditors and corporate debtors and limited stakeholder involvement, and it fails to extend adequate safeguards to the aforementioned groups. This imbalance is exacerbated in sector-specific issues, viz., Micro, Small, and Medium Enterprises (MSMEs) and the real estate industry, the unique economic roles and vulnerabilities of the parties are disregarded for a more generic and interchangeable approach in solving these unique problems through a uniform resolution framework. While lawmakers have taken steps to remedy these issues for parties, to recognize homebuyers as financial creditors, and provide pre-packaged insolvency schemes for MSMEs; these parties and other corporate debtors have criticized the IBC's operational framework as still unfairly treating creditors and debtors, provided procedural rigidity, and unduly liquidating sustainable enterprises