“Business failures, including the corporate bankruptcy phenomenon, are sobering economic realities reflecting the uniqueness of corporate death.” It is the harsh reality that in the competitive market, some enterprises will fail to survive. In India, industrial disease has increased in both the large and small industries. Reassuring oneself that this is, in part, a byproduct of industrial expansion, does not lessen the gravity of the issue. However, there are measures which can be helpful for an enterprise to take its own stand in today’s economy. Corporate restructuring is a way to revive sick organizations. Due to its numerous benefits, such as enhanced corporate performance and stronger corporate governance, it has long- lasting impacts on the company. The paper highlights the historical background of corporate restructuring. The aim of this paper is to understand the legislations governing the revival of enterprises in India.
