International Comparative Analysis of Cross Border Insolvency

There is currently no adequate structure on the topic related to cross border insolvency in our country. The provision of Cross Border Insolvency to be inserted in the code as it is inserted today, and for that purpose the draft has been made by the committee as presented as a Bill, that would be enacted. It can be noted that there is no scheduled time frame for the revisions but sources specify that Government has taking initiatives for the implementation of new chapters in the code. Irrespective of the provisions inserted in the Code of cross border insolvency by the government, the main issue will remain as the cooperation from the foreign states in the matter of insolvency as the settlement might be very complicated regarding the jurisdiction of the other country. In this Research Work, the researcher will focus on the cross border insolvency matters and the lacunas that should be addressed in context of effective implementation of the code.