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Critical Analysis Of Cross-Border Insolvency In India




Navya Ashok Shukla, Chanakya National Law University


ABSTRACT


Cross-border insolvency, as the name suggests, indicates a situation in which the insolvent debtor has assets in more than one jurisdiction or where some of the debtor's creditors are not from the jurisdiction in which the insolvency proceedings were filed. The Insolvency and Bankruptcy Code, 2016 states two provisions for the purpose of cross-border insolvency. The Insolvency Law Committee in 2018 suggested the incorporation of the Model Law (“Draft Provisions”) into the Code. This suggestion, if implemented would overhaul the current regime behind these proceedings. Through this article, the author aims to understand the legislation guiding the cross-border insolvency in India currently and the effect of Draft Provision of the Code.

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Indian Journal of Law and Legal Research

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Abbreviation: IJLLR

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ISSN: 2582-8878

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Website: www.ijllr.com

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Accessibility: Open Access

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License: Creative Commons 4.0

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All research articles published in The Indian Journal of Law and Legal Research are fully open access. i.e. immediately freely available to read, download and share. Articles are published under the terms of a Creative Commons license which permits use, distribution and reproduction in any medium, provided the original work is properly cited.

 

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The opinions expressed in this publication are those of the authors. They do not purport to reflect the opinions or views of the IJLLR or its members. The designations employed in this publication and the presentation of material therein do not imply the expression of any opinion whatsoever on the part of the IJLLR.

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