This book is about the establishment of the Insolvency and Bankruptcy
Code, in 2016, one of the most important new developments in Indian
commercial law. The law has major implications for firms, their
creditors, and a variety of the professional services that feed into the
decisions of borrowers and lenders including lawyers, accountants and
valuers. A new profession of insolvency professionals has come to exist
owing to the law. There are several questions about bankruptcy reform in
the mind of researchers, policy makers and practitioners. How has the
reform progressed? How has it reshaped the incentives of firms? What are
the difficulties faced? What are the optimal paths for borrowers and
lenders and their advisors under the rubric of the law? How should laws
and institutions be modified? The book has a unique set of chapters, by
key people who have shaped the field which offer novel insights into
these questions.
The book has been edited by key people who have worked on bankruptcy
reform since 2010. Dr. Sahoo has been the chairperson of the Insolvency
and Bankruptcy Board of India since the establishment of this regulatory
agency. Dr. Thomas was a member of the Bankruptcy Law Reforms Committee
which drafted the IBC, and led the internal team of the BLRC which
drafted the law. The book is an authentic and credible analysis of the
happenings in the Indian insolvency and bankruptcy ecosystem from the
start, with interest areas for international and domestic,
economics/finance and law, researcher and practitioner communities.
