CORPORATE BANKRUPTCY AND INSOLVENCY RESOLUTION IN INDIA: LACUNAE IN THE PRESENT AND REMEDY FOR THE FUTURE

According to World-Bank estimate, it takes about 4.3 years on an average to resolve insolvency in India, nearly twice the time it takes to do so in its four neighbouring countries China, Nepal, Pakistan, and Sri Lanka. This lengthy time period in resolving insolvency is further added to by a wide range of laws dealing on the topic, thus complicating the situation even further.