Evaluating The Success Of Corporate Insolvency Resolution Process Under IBC, 2016
- IJLLR Journal
- Apr 4
- 1 min read
Tarun Kumar, LLM (Business Law), Amity Institute of Advanced Legal Studies, Amity University Noida
ABSTRACT
In order to improvise creditor’ interest and promotion of economic balance, corporate insolvency resolution process was introduced to smoothen and facilitate insolvency resolution under IBC, 2016. The efficacy of CIRP under IBC is critically assessed in this study by examining important performance metrics such stakeholder satisfaction, recovery rates, and resolution delays. The research identifies current issues, such as legal delays, procedural inefficiencies, and the role of insolvency experts, and investigates whether the IBC has achieved its goal of promoting timely and efficient bankruptcy remedies. A comparison with international insolvency systems reveals areas that need improvement. The study evaluates the effects of CIRP on creditors, corporate debtors, and the financial industry using empirical data and case studies. The results are intended to provide policy suggestions to improve IBC's efficiency in guaranteeing a strong insolvency resolution process.
Keywords: Corporate Insolvency Resolution Process, Insolvency and Bankruptcy Code 2016, creditor interest, economic balance, insolvency resolution, stakeholder satisfaction, recovery rates, resolution delays, legal challenges, procedural inefficiencies, insolvency professionals, global insolvency comparison, financial sector impact, corporate debtors, policy recommendations.
