Insolvency and Bankruptcy Reforms in India

This book examines the establishment of the Insolvency and Bankruptcy Code in 2016, which has major implications for firms, creditors, and professional services. It discusses the progress of the reform, the incentives of firms, the difficulties faced, and the optimal paths for borrowers and lenders. It is an authentic and credible analysis of the Indian insolvency and bankruptcy ecosystem.

Format: Hardback
Length: 187 pages
Publication date: 30 November 2022
Publisher: Springer Verlag, Singapore

This book delves into the establishment of the Insolvency and Bankruptcy Code (IBC) in 2016, which is considered one of the most significant developments in Indian commercial law. The IBC has far-reaching implications for firms, creditors, and various professional services that influence borrowers' and lenders' decisions, including lawyers, accountants, and valuers. As a result, a new profession of insolvency professionals has emerged. Researchers, policymakers, and practitioners are actively engaged in discussing bankruptcy reform, raising several questions. How has the reform progressed? How has it reshaped the incentives of firms? What challenges have been encountered? What are the optimal strategies for borrowers and lenders, as well as their advisors, under the IBC framework? What modifications are necessary to laws and institutions?

The book offers a unique set of chapters authored by key individuals who have played a pivotal role in shaping the field of bankruptcy reform since 2010. Dr. Sahoo, in his capacity as the chairperson of the Insolvency and Bankruptcy Board of India (IBBI), has been instrumental in overseeing the development and implementation of the IBC. Dr. Thomas, a member of the Bankruptcy Law Reforms Committee (BLRC), played a crucial role in drafting the IBC and led the internal team responsible for its drafting.

This book provides an authentic and credible analysis of the events and developments within the Indian insolvency and bankruptcy ecosystem, spanning from its inception. It appeals to a wide range of interest groups, including international and domestic economists, finance professionals, and law scholars, as well as practitioners. The book offers valuable insights into the IBC's impact on firms, creditors, and the broader business landscape, and serves as a valuable resource for researchers, policymakers, and practitioners seeking to understand and navigate the complexities of the Indian insolvency and bankruptcy system.

Weight: 477g
Dimension: 235 x 155 (mm)
ISBN-13: 9789811608537
Edition number: 1st ed. 2022