FROM DISTRESS TO DEVELOPMENT: THE IBC AND INDIA’S ECONOMIC FUTURE

This book provides a compelling and authoritative exploration of India’s transformative journey in insolvency law through the enactment and evolution of the Insolvency and Bankruptcy Code (IBC), 2016. It offers readers a deep and structured insight into how India moved from fragmented, outdated insolvency mechanisms to a modern, time-bound, creditor- driven system revolutionizing its business environment and economic architecture. India’s Insolvency Revolution unpacks the conceptual foundations, institutional mechanisms, and real-world implications of the IBC with clarity and precision. Through an analysis of landmark judgments, cross-border insolvency issues, sector-specific challenges, and ongoing reforms, the book captures the dynamic nature of insolvency law in India. It reveals how the IBC has redefined the roles of stakeholders—corporate debtors, creditors, insolvency professionals, and the judiciary—and positioned India as an emerging global leader in insolvency resolution frameworks.

From the insolvency of corporate giants to individual and partnership insolvencies, this book comprehensively covers the procedural aspects of the Corporate Insolvency Resolution Process (CIRP), liquidation mechanisms, and the emerging personal insolvency regime. The work further delves into how the Code has strengthened the credit ecosystem, boosted investor confidence, and contributed to India’s improved Ease of Doing Business rankings. With up-to-date legal developments, practical illustrations, and incisive commentary, the book also tackles persistent challenges such as delay in resolution, judicial bottlenecks, capacity constraints, and the need for alignment with international insolvency norms. It raises critical questions on the future of the IBC, proposing policy-level recommendations for enhancing effectiveness and sustainability. Whether you are a legal practitioner, insolvency professional, policymaker, corporate strategist, financial analyst, academic, or student of commercial law, this book equips you with the legal knowledge, analytical tools, and economic understanding necessary to navigate and contribute meaningfully to India’s insolvency landscape. This work seeks to speak to many: the lawyer searching for jurisprudential depth, the policymaker seeking reform- oriented insights, the business strategist charting future courses, the academic nurturing scholarship, and the student building a foundation for tomorrow. It is my humble hope that this book will serve as a companion in understanding not just the law of insolvency, but its philosophy and promise for India’s development. As with all scholarship, this book is a dialogue—between past and present, theory and practice, law and economy. I invite the reader to walk with me on this journey of reflection and discovery.