Velicheti Sri Harshith, LLM, The National Academy of Legal Studies and Research (NALSAR)
Manaswini Duggineni, LLM, The National Academy of Legal Studies and Research (NALSAR)
R S B Siva Harshit, BA LLB, Krishna University
ABSTRACT
Digital assets are the future of finance is what, is being told for the past few years. In true fashion, a new technology is adopted way ahead of the laws that follows. Digital assets are very volatile in terms of their values and in past few years that has led to a lot of companies going insolvent all over the world. That raises a question has Indian insolvency laws caught up to this new era of finance, so far it looks like these Indian laws are not only behind but also adversely affecting the creditors. The most basic thing that’s dealt with, before entering the corporate insolvency resolution process is what kind of debt is owed which helps determining what kind of a creditor is a creditor. Finding the best answer to this basic question in the context of digital assets is the quest of this article.
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