Beyond The Balance Sheet: A Socio-Legal Excursion Of The Pre-Slated Convention Of Trespassing Process And Its Effect On Workplace Employees Of MSMEs In India
- IJLLR Journal
- Jan 15
- 1 min read
Goutam Doddamani, Christ (Deemed to be University)
ABSTRACT
The article presents a strict analysis of socio-legal issue of the pre-packaged insolvency resolution process (PPIRP) of India in the Micro, Small, and Medium Enterprises (MSME) employees. The evidence on the PPIRP to date is almost exclusively on economic efficiency with a significant gap in research related to the welfare of employees in the so-called debtor-friendly model. Having adopted the doctrinal and comparative legal approaches, this paper examines the legal security granted to employees, as well as their vulnerabilities under the Insolvency and Bankruptcy Code, 2016. It has been shown that although the so-called debtor-in-possession model is supposed to result in greater employment through the offer of business continuity during the resolution process, serious gaps are still observed in the way employees are treated in relation to comparable statutory protection flameworked in the United Kingdom. The article concludes that to bring the PPIRP into reflection with the most equitable principles, the statutory employee protection should be increased to create a systemic balance that would equally focus on economic underpinning and employee interests.
Keywords: Pre-made Insolvency, MSME, Employee Rights, Insolvency and Bankruptcy Code, Socio-Legal Analysis, Debtor-in-Possession, Corporate Restructuring.
