National Report for India on Executory Contracts

Executory Contracts in Insolvency Law, 1st Eds., Edward Elgar, pp. 633-647, ISBN. 978 1 78811 551 3

Posted: 4 Jun 2019

See all articles by Indrajit Dube

Indrajit Dube

Indian Institute of Technology (IIT), Kharagpur - Rajiv Gandhi School of Intellectual Property Law (RGSOIPL)

Date Written: February 18, 2019

Abstract

India enacted a comprehensive law on corporate insolvency in 2016. Before the enactment of new law, the creditors enforced their rights against debtor company under different legislations. India also notably did not have a provision likes 365 of the US Bankruptcy Code. Thus, the executory contract or similar principles were not developed by Indian courts/tribunals in adjudicating the creditors claim against debtor company. The Calcutta High Court in 1963 referred to the concept in a winding up proceedings. There was no mention thereafter in any judgements. It is of interest as to why executory principle was not significant to Indian courts, and whether and to what extent such contracts would be treated under the present IBC 2016.

Suggested Citation

Dube, Indrajit, National Report for India on Executory Contracts (February 18, 2019). Executory Contracts in Insolvency Law, 1st Eds., Edward Elgar, pp. 633-647, ISBN. 978 1 78811 551 3, Available at SSRN: https://ssrn.com/abstract=3389257

Indrajit Dube (Contact Author)

Indian Institute of Technology (IIT), Kharagpur - Rajiv Gandhi School of Intellectual Property Law (RGSOIPL) ( email )

Kharagpur, West Bengal 721302
India
+91 3222 281732 (Phone)
+91 3222 281732 (Fax)

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