The Evolving Landscape of Insolvency Law in India

The Insolvency and Bankruptcy Code, 2016, set out to give India a consolidated, time-bound framework for resolving financial distress. Ten years on, the Code sits at the centre of Indian commercial law, and its hardest questions now arise at its edges: where debtors hold assets abroad, where disputes are already before arbitral tribunals, where enforcement agencies have attached the same property, and where the process itself can be turned to unfair ends.

The essays in this volume arise from the International Conference on insolvency law organised by the Insolvency and Bankruptcy Law Division of Rajiv Gandhi National University of Law, Punjab. They examine pre-packaged insolvency for MSMEs and the risks of fraud and phoenixing within it; cross-border and group insolvency under the UNCITRAL Model Laws; the interaction of insolvency with arbitration, money-laundering law and taxation; the independence of resolution professionals and the position of dissenting and operational creditors; and newer questions raised by ESG, private capital and early-warning systems built on artificial intelligence.

The collection identifies gaps in the present framework and sets out proposals for reform. It is written for students, researchers, practitioners, insolvency professionals and policymakers.