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Enhancing The Resolution Framework Of The IBC Through Mediation: A Comprehensive Analysis




Sruthi Chandramohan, National Law University, Delhi


ABSTRACT


Mediation being one of the alternate dispute resolution methods, in its nascent stages in India has created contours of discussion to be included amongst other national legislations. The report released by the Insolvency and Bankruptcy Board in January 2024 has proposed nuances of how Mediation is viable to resolve insolvency disputes. The framework involves the legislative process of Corporate Insolvency Resolution Proceedings (hereinafter ‘CIRP’) along with the efficiency of involving mediation as an alternate to the arduous process of litigation. Pursuant to this, in order to bridge the proposed interplay, an isolated study of the Mediation Act, 2023(hereinafter ‘the act’) and the Insolvency and Bankruptcy Code, 2016 (hereinafter ‘the code’) are to be carried out. This paper discusses the report on the basis of its extent of applicability of mediation to insolvency and other national legislations and attempts to evaluate the process of ascertaining the applicability of mediation to insolvency disputes. Further, the paper delves into Mediation’s scope in other jurisdictions as a practice for insolvency disputes and determine facets and characteristics suitable to be incorporated in India’s dispute resolution landscape.

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Indian Journal of Law and Legal Research

Abbreviation: IJLLR

ISSN: 2582-8878

Website: www.ijllr.com

Accessibility: Open Access

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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