Insolvency and Bankruptcy Reforms in India

1. Front Matter

   Pages i-xvi

   PDF

2. An Overview

   • Susan Thomas

   Pages 1-7

3. An Early Examination of the RBI–12 Cases Under the IBC

   • Josh Felman, Varun Marwah, Anjali Sharma

   Pages 9-35

4. Real Estate Insolvencies and the Status of Home Buyers

   • Gausia Shaikh, Anjali Sharma

   Pages 37-58

5. Performance of Company Law Tribunals in India

   • Aditi Nayak, Prasanth V. Regy

   Pages 59-91

6. A Maximalist Approach to Data Under IBC

   • Adam Feibelman, Renuka Sane

   Pages 93-120

7. Prepacks Under the IBC: A Tussle Between Speed and Fair Process

   • Aparna Ravi

   Pages 121-135

8. The Way Forward for Personal Insolvency

   • Renuka Sane

   Pages 137-161

9. Value Destruction and Wealth Transfer Under the Insolvency and Bankruptcy Code, 2016

   • Pratik Datta

   Pages 163-187

This book is about the establishment of the Insolvency and Bankruptcy Code, in 2016, one of the most important new developments in Indian commercial law. The law has major implications for firms, their creditors, and a variety of the professional services that feed into the decisions of borrowers and lenders including lawyers, accountants and valuers. A new profession of insolvency professionals has come to exist owing to the law. There are several questions about bankruptcy reform in the mind of researchers, policy makers and practitioners. How has the reform progressed? How has it reshaped the incentives of firms? What are the difficulties faced? What are the optimal paths for borrowers and lenders and their advisors under the rubric of the law? How should laws and institutions be modified? The book has a unique set of chapters, by key people who have shaped the field which offer novel insights into these questions.

The book has been edited by key people who have worked on bankruptcy reform since 2010. Dr. Sahoo has been the chairperson of the Insolvency and Bankruptcy Board of India since the establishment of this regulatory agency. Dr. Thomas was a member of the Bankruptcy Law Reforms Committee which drafted the IBC, and led the internal team of the BLRC which drafted the law. The book is an authentic and credible analysis of the happenings in the Indian insolvency and bankruptcy ecosystem from the start, with interest areas for international and domestic, economics/finance and law, researcher and practitioner communities.

• Insolvency India
• Bankruptcy India
• Insolvency and Bankruptcy Code/ IBC
• Resolution/Liquidation
• Economic Reform
• Home Buyers
• NCLT India
• Prepacks Under IBC
• Data and Insolvency and Bankruptcy Regime

• Jindal Global Business School, O. P. Jindal Global University, Sonipat, India

  Susan Thomas

Dr. Susan Thomas is a Research Professor of Business at the Jindal Global Business School. She has worked on problems such as designing the stock market index, real-time risk management system for the clearing corporation, and the use of call auctions. She has had various policy engagements with the Ministry of Finance, including being a member of the Standing Council of the competitiveness of the Indian Financial Sector (2013 onwards), and the Bankruptcy Legislative Reforms Committee (2014-2015). She led the research secretariat for the Bankruptcy Law Reforms Committee which conceptualised the Insolvency and Bankruptcy Code.

Policies and ethics