The recent reforms reflect the IBBI’s aspiration to make the insolvency resolution process not just faster, but also more accountable and investor-friendly. But it is imperative to view these reforms in consonance with the underlying institutional limitations. The IBC framework still suffers from limited infrastructure at the NCLT level, valuation disputes, inconsistent judicial interpretation and information asymmetry. As of September 2024, the number of CIRPs resulting in liquidation (2,630) was still over 2.5 times the number resulting in resolution (1,068). Therefore, the recent reforms need to be accompanied by reforms in tribunal capacity building, cross-border insolvency framework and digital infrastructure for tracking CIRP…
Insolvency Guardian
Insolvency Services & Bankruptcy Advice
