The Need for Implementing a Cross-Border Insolvency Regime within the Insolvency and Bankruptcy Code, 2016

Das, Ishita

doi:10.1177/0256090920946519

Cited by 2 publications

(2 citation statements)

References 5 publications

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“…Therefore, asset liquidation is the better option to pay off outstanding obligations. The review of the literature on insolvency reveals insolvency as a much-discussed and debated issue in the corporate world because of its economic and legal implications (Morrison 2002;Levratto 2013;Marilena and Taran 2015;Agarwal et al 2020;Das 2020;Sahoo and Guru 2020;Misra 2020). The term "insolvency" has two dimensions: the accounting concept, which comprises cash flow insolvency, balance sheet insolvency, and economic failure.…”

Section: Introductionmentioning

confidence: 99%

Insolvency resolution and doing business reforms in BRICS Nations: A comparative study

Chawla¹,

Kumar²,

Patel

2022

Preprint

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This paper analyzes the factors responsible for the efficacy of resolving insolvency issues, influencing the ease of doing business (EoDB) ranking in the BRICS (Brazil-Russia-India-China-South Africa) nations' context, focusing on India. Besides, the study examines the legal framework and judicial decisions on insolvency resolution that boost stakeholders' confidence and improve the business environment. We applied descriptive statistics, the analytical hierarchy process (AHP), and the fuzzy analytical hierarchy process (F-AHP) to analyze and interpret the findings. The key results show that insolvency resolution has been one of the priorities of the governments of Brazil, Russia, and China for almost a decade. Resolving insolvency is the prime factor responsible for India's rank improvement, whereas it is not a priority for South Africa. The AHP calculations prove the Indian government's commitment to insolvency resolution, syncing with experts' opinions. Future EoDB studies concerning other nations may employ the AHP techniques, bringing new results.. The findings add value to the knowledge base on insolvency resolution, contributing to the EoDB ranking vis-a-vis the business environment and providing a broader implication for further research.

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Section: Introductionmentioning

confidence: 99%

Insolvency resolution and doing business reforms in BRICS Nations: A comparative study

Chawla¹,

Kumar²,

Patel

2022

Preprint

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“…Prasad, Gupta, and Mathur (2020) analysed the outcomes of the cases resolved under IBC of India to examine the treatment of admitted claims for operational and financial creditors. Das (2020) explored the challenges and opportunities regarding the cross-border system in the IBC, including a critical analysis of the Insolvency Law Committee's (ILC) recommendations. Handa (2020) analysed Corporate Insolvency Resolution Process (CIRP) as an effective route for acquisitions and identified problems that are relevant from an acquisition perspective, with the objective of strengthening and stimulating successful acquisitions and investments in the Indian economy.…”

Section: Introductionmentioning

confidence: 99%

On the Effectiveness of Insolvency and Bankruptcy Code, 2016: Empirical Evidence From India

Abhirami

Rahul

2022

Law and Business

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The Indian insolvency regime has undergone a historic change with the introduction of the Insolvency and Bankruptcy Code, 2016. This paper empirically analyses the effectiveness of the Code in the Indian economy. The paper also studies the insolvency frameworks that existed in India, the distinguishing features, and the legal framework of the Code. The analysis of the current status of the Indian insolvency regime with timelines and cross-sectional data clarifies the non-performing assets trajectory, recovery rates, and time required under different recovery mechanisms, a summary of cases under the new Code and the status of India in the international insolvency systems. The empirical evidence of this study suggests that the Code is an improvement over its predecessors in terms of recovery rates, resolution of non-performing assets, and resolution costs. The Code should be subjected to necessary improvements to evolve and become a foolproof mechanism. Suggestions to that effect are offered in the final section.

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The Need for Implementing a Cross-Border Insolvency Regime within the Insolvency and Bankruptcy Code, 2016

Cited by 2 publications

References 5 publications

Insolvency resolution and doing business reforms in BRICS Nations: A comparative study

Insolvency resolution and doing business reforms in BRICS Nations: A comparative study

On the Effectiveness of Insolvency and Bankruptcy Code, 2016: Empirical Evidence From India

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