Corporate Insolvency Regulations in India: A Critical Study
No Thumbnail Available
Date
Authors
Journal Title
Journal ISSN
Volume Title
Publisher
Abstract
Description
Corporate rescue mechanisms are used to revive a corporation suffering from financial distress. In the competitive era government plays a vital role in providing effective regulatory mechanisms which can benefit the corporation in financial distress, a way out by providing opportunity of its revival and also contents the creditors. A balance is required in insolvency laws in regard with creditors right and protecting corporate debtor. UNCITRAL and WORLD BANK have made modal insolvency law, which can be of great help while developing insolvency laws in a country. In the quest to curb the menace of high NPAs and long time required for the insolvency resolution government has introduced the ―Insolvency and Bankruptcy Code ,2016‖ along with other regulations. Even after its introduction, it is still work in progress. At this juncture it is pertinent to review regulations and efficiency of the corporate insolvency process in India.
Keywords
Corporate Insolvency Regulation, Corporate Insolvency, Corporate