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Regulation of Insolvency Professionals in India: International Regulation Standards Litmus Test and Cross-Border Persp...
ISSN: 2581 - 9453
Publisher: author
Regulation of Insolvency Professionals in India: International Regulation Standards Litmus Test and Cross-Border Persp...
Indexed in
Law and Political Sciences
ARTICLE-FACTOR
1.3
Article Basics Score: 2
Article Transparency Score: 2
Article Operation Score: 2
Article Articles Score: 3
Article Accessibility Score: 2
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International Category Code (ICC):
ICC-1002
Publisher: Gyan Prakash Kesharwani
International Journal Address (IAA):
IAA.ZONE/2581118049453
eISSN
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2581 - 9453
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Abstract
India transformed its business environment on May 11, 2016, by enacting the Insolvency & Bankruptcy Code, 2016 (“IBC”). The IBC is a robust and empowering legislation that has delivered tangible results within a remarkably short period post its enactment. Irrefutable proof of the same is India moving a whopping 56 places from 108 to 52 under the category of “Resolving Insolvency” in World Bank’s Ease of Doing Business Report, 2020. One of the critical pillars of institutional infrastructure on which the robust legislative machinery created under the IBC rests is “Insolvency Professionals” (“IPs”). IPs exercise quasi-judicial powers in any insolvency/bankruptcy proceeding, subject to the review of the creditors and the adjudicating judicial authorities. IPs drive all the processes governed by and initiated under the IBC. Thus, given the critical position that IPs hold in the scheme of things promulgated under the IBC, their regulation ...
