International Journal of Law and Management: Insolvency and Bankruptcy Code 2016: revisiting with market reality

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International Journal of Law and Management: Insolvency and Bankruptcy Code 2016: revisiting with market reality

Abstract
Purpose – This paper aims to revisit the Indian experience on corporate bankruptcy law to answer “why
Indian corporate insolvency law structured differently from a manager-driven (pre-Insolvency Code) to
manager-displacing model (post-Insolvency Code)?”
Design/methodology/approach – This paper is qualitative in nature. The paper analyses the prevailing
theoretical wisdom in corporate insolvency law in India and examines the practices of Indian bankruptcy
regime.
Findings – The authors argued, considering the corporate ownership composition, the Insolvency and
Bankruptcy Code 2016 will not accomplish the intended objective (i.e. the “creditor primacy”). The findings
refute with the evolutionary theory, i.e. debt and equity both will tend towards dispersion in outsider system
of governance.
Originality/value – This paper put forward the imprint that Indian corporate insolvency regime is
manager-displacing under Law on Books and manager-driven under Law on Practice.

Statement of Responsibility

Author(s)

Shakti Deb - Personal Name
Indrajit Dube - Personal Name

Edition

Call Number

Subject(s)

Ownership, Governance, Insolvency, India, Creditor

Classification

NONE

Series Title

GMD

Text

Language

ENGLISH

Publisher

EMERALD INSIGHT

Publishing Year

2021

Publishing Place

ENGLAND

Specific Detail Info

JURNAL ILMU HUKUM

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APA Citation

Shakti Deb. (2021).International Journal of Law and Management: Insolvency and Bankruptcy Code 2016: revisiting with market reality.(Electronic Thesis or Dissertation). Retrieved from https://localhost/etd