Doctrinal Analysis of Debt Recovery Under the Sarfaesi Act and the Insolvency and Bankruptcy Code, 2016: Harmonisation, Overlaps, and Judicial Trends
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Date
2026
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NLUJAA
Abstract
The dissertation examines the points of overlap, conflict, and duplication between the two statutes, especially with regard to Section 238 and the Section 14 moratorium, and tracks the development of debt collection law in India. It makes the case that the judicial approach shows convergence rather than displacement, citing important rulings such as Innoventive Industries v. ICICI Bank, Essar Steel, Swiss Ribbons, and Dhanlaxmi Bank v. Mohd. Javed Sultan. Over the past thirty years, Indian debt recovery law has changed significantly. From the prolonged delays of civil litigation to the organized frameworks of the SARFAESI Act, 2002 and the Insolvency and Bankruptcy Code, 2016, and most recently, the reforms brought about by the IBC Amendment Act, 2026. While the IBC represents a communal, resolution-oriented strategy, the SARFAESI Act represents an individual, creditor-centric form of enforcement. This dissertation investigates the relationship between these two regimes and tests the theory that they are not fundamentally incompatible despite having different foundations.
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Dissertation submitted to National Law University and Judicial Academy, Assam in partial fulfilment for award of the degree of MASTER OF LAWS / ONE YEAR LL.M. DEGREE PROGRAMME Submitted by Kenneth Borgayary UID: SM0225021 LL.M. 2025-26, II- SEMESTER Supervised by Mr. Ankur Madhia Assistant Professor of Law