Abstract

The introduction of India's Insolvency and Bankruptcy Code (IBC) in 2016 indeed represented a significant departure from the traditional insolvency regime in the country. It aimed to revolutionize the resolution process, strengthen creditor rights, and promote a more dynamic entrepreneurial culture. However, the journey of implementing the IBC has not been without its hurdles, prompting a thorough examination of its efficacy and broader impact on the economy. This dissertation embarks on a meticulous exploration of India's insolvency and bankruptcy laws. It delves into various aspects, including their historical evolution, the underlying legal framework, practical challenges in implementation, and the socio-economic ramifications. By adopting a mixed-method approach, incorporating legal analysis, empirical research, and comparative perspectives, the dissertation aims to offer a holistic understanding of the strengths, weaknesses, and potential avenues for reform within India's insolvency regime. Through legal analysis, the dissertation scrutinizes the intricacies of the IBC, assessing its compatibility with existing laws and international best practices. It examines key provisions, procedural intricacies, and judicial interpretations to gauge the law's effectiveness in achieving its stated objectives. Incorporating empirical research, the dissertation ventures into the real-world implications of the IBC. It investigates case studies, examines data on resolution outcomes, and evaluates the impact on stakeholders, including creditors, debtors, and investors.

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