Corporate Insolvency in India: A Need for Panoptic Law

Abstract:     
Corporate or Company insolvency is a state of financial distress and it must be handled with consolidated, robust and highly efficient mechanisms. An efficient legal and regulatory framework is indispensable for it. In this paper, a humble endeavor has been made to bring to fore the present laws and the lacunas in them. The law of insolvency is discussed with special attention to laws of different jurisdiction like US, Australia and UK and an attempt is made to underline the present rescue process relating to insolvency. The issue of Cross-border Insolvency has been undertaken, in brief and the UNCITRAL Model law in particular. Reference has been made to various books, research papers, scholarly works, articles and other relevant materials. Some possible reforms are also suggested to avoid the needless, elongated delay and bring efficiency in the process.

Keywords: corporate, company, insolvency, Cross-border Insolvency, UNCITRAL

Accepted Paper Series