INSOLVENCY AND BANKRUPTCY CODE AND ITS COMPARATIVE ANALYSIS
Insolvency, Bankruptcy, IBC, Code, other countries
The research paper focuses on the Insolvency and Bankruptcy Code, 2016 and its comparative Analysis with a view to examine its efficiency and to pluck the gray areas. INSOLVENCY LAWS IN OTHER COUNTRIES:- The research paper focuses on the The Insolvency and Bankruptcy Code, 2016, and its practical application in India. The practical impact of IBC code 2016 is still up for debate, necessitating the present study. It is imperative to examine the efficiency of the Indian Insolvency Law (IBC) in contrast to similar laws, six years after this legislation IBC 2016 was passed. In this paper, the legal processes for insolvency and bankruptcy in India are compared to those in the US, the UK, Germany, Singapore, and Australia. Comparative Analysis of Insolvency Laws How the Indian IBC 2016 compares to other insolvency codes adopted internationally is a common question that comes to mind. An examination into foreign insolvency and bankruptcy rules could provide additional information because they have been around for a while and have dealt with a number of situations. As far as we are aware, IBC 2016 is a new law that is still developing as it was passed in May 2016. The regulator (Insolvency & Bankruptcy Board of India) should be applauded for how quickly and pro-actively it responds to each new situation by enacting laws and procedures to deal with it effectively. In India, resolving a company's insolvency takes an average of 1.6 years, compared to 1.0 years in the US, UK, and Australia, 1.2 years in Germany, and 0.8 years in Singapore, according to the 2019 World Bank Doing Business Report. Additionally, in comparison to other nations, the recovery rate is 71.6% lower. At this point, it is vital to look at how other jurisdictions handle insolvency in order to gain some insight into how to reform the Indian insolvency regime. KEY WORDS: Insolvency, Bankruptcy, IBC, Code, other countries
"INSOLVENCY AND BANKRUPTCY CODE AND ITS COMPARATIVE ANALYSIS", IJSDR - International Journal of Scientific Development and Research (www.IJSDR.org), ISSN:2455-2631, Vol.7, Issue 11, page no.1197 - 1202, November-2022, Available :https://ijsdr.org/papers/IJSDR2211177.pdf
Volume 7
Issue 11,
November-2022
Pages : 1197 - 1202
Paper Reg. ID: IJSDR_202840
Published Paper Id: IJSDR2211177
Downloads: 000347266
Research Area: Social Science and Humanities
Country: ghaziabad, uttarpradesh, india
ISSN: 2455-2631 | IMPACT FACTOR: 9.15 Calculated By Google Scholar | ESTD YEAR: 2016
An International Scholarly Open Access Journal, Peer-Reviewed, Refereed Journal Impact Factor 9.15 Calculate by Google Scholar and Semantic Scholar | AI-Powered Research Tool, Multidisciplinary, Monthly, Multilanguage Journal Indexing in All Major Database & Metadata, Citation Generator
Publisher: IJSDR(IJ Publication) Janvi Wave
