Alternate Dispute Resolution During Insolvency Proceedings: Special Emphasis On The Insolvency And Bankruptcy Code, 2016
Krish Parashar, NMIMS Kirit P. Mehta School of Law.
ABSTRACT
This paper primarily talks about the implementation of alternate dispute resolution (ADR) processes in matters pertaining to insolvency. It commences with explaining the various insolvency & restructuring legislations that exist in India. However, as the paper proceeds, the focus is shifted and restricted solely to the Insolvency and Bankruptcy Act, 2016.
As the paper further proceeds, it is first and foremost determined whether or not ADR processes are legally recognised under the IBC,2016. (Herein after for the sake of brevity referred to as “the code.”)
As we reach the crux of this paper, a detailed comparative analysis is provided between the procedure established under the code while approaching judiciary V/s. when opting for any of the ADR process. This is done with the help of legal journals, government published articles, MCA guidelines etc.
Since, the primary objective of the author is to talk about ADR processes in IBC cases, a list of reasoned merits & demerits of the same is provided in addition to the comparative analysis. Last but not the least, the paper concludes with certain recommendations.
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