Devashree Nimbhorkar, Maharashtra National Law University Mumbai
ABSTRACT
Since the inception of the Insolvency and Bankruptcy Code, 2016, India on its economic front has progressed in terms of ease of doing business. Yet, the insolvency of enterprise groups has not been addressed in the insolvency framework and thus, remains to be developed. The lacunae of not having a framework are filled by the placing reliance on foreign jurisprudence, legal principles and Model laws provided by UNCITRAL. This article attempts to analyse the present guiding framework for enterprise group insolvency in India and analyses it with respect to the UNICITRAL Model Law on Enterprise Group Insolvency.
Keywords: Group Insolvency, Insolvency and Bankruptcy Code, UNCITRAL.
