Pooja, Campus Law Centre, University of Delhi
ABSTRACT
This paper aims to critically analyse the effectiveness of Indian laws in addressing the complexities of cross-border insolvency, specifically examining whether the Insolvency and Bankruptcy Code (IBC) adequately addresses these issues and the judiciary's role in this context. The study aims to elucidate India's current position on cross-border insolvency legislation, utilizing secondary sources to gather relevant data and insights. Key findings indicate that India has very limited laws pertaining to cross-border insolvency, highlighting significant gaps in the legal framework. The judiciary has played a role in interpreting existing provisions, but these efforts are insufficient without a robust legal structure. Consequently, the study concludes that India urgently needs comprehensive and robust legislation to effectively manage cross-border insolvency cases, ensuring better alignment with global standards and improving the efficacy of the insolvency process.
Keywords: Cross border insolvency, India, Insolvency bankruptcy code, insolvency law committee, judiciary, UNCITRAL Model Law
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