LIJDLR

Resolution Plan

A WAY TO RESOLVE THE CORPORATE INSOLVENCY UNDER THE IBC

Volume III Issue II /

A WAY TO RESOLVE THE CORPORATE INSOLVENCY UNDER THE IBC Akash Kumar, CIRP, Moratorium, Insolvency Resolution Professional, Committee of Creditors, Resolution Plan, Adjudicating Authority. Download Manuscript doi.org/10.70183/lijdlr.2025.v03.52 The IBC represents a major overhaul, unifying and revising laws related to corporate, partnership, and individual insolvency and restructuring under a defined timeline. The Corporate Insolvency Resolution Process (CIRP), introduced under the Insolvency and Bankruptcy Code (IBC) of 2016, is designed to assist financially troubled companies by promoting both equitable distribution of assets and potential business revival. This study explores the CIRP framework as outlined in the IBC, detailing its key provisions, procedures, and the eligibility criteria for stakeholders involved in the resolution process. The paper also delves into judicial interpretations of the CIRP, assessing its strengths and limitations. Furthermore, it evaluates the extent to which the CIRP meets its intended goals. The article offers insights into the CIRP’s role within India’s insolvency ecosystem and concludes with recommendations for reform.

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THE ROLE OF COMMITTEE OF CREDITORS (COC) IN SHAPING RESOLUTIONS

Volume III Issue I /

THE ROLE OF COMMITTEE OF CREDITORS (COC) IN SHAPING RESOLUTIONS Nikhil Rawat, LL.M. (Corporate Banking & Insurance), Amity Law School, Noida (U.P.) Dr Amit Dhall, Assistant Professor, Amity Law School, Noida Download Manuscript doi.org/10.70183/lijdlr.2024.v03.32 The advent of the Insolvency and Bankruptcy Code, 2016 (IBC) in India marked a seminal shift in how financial distress is addressed. At the heart of this reform lies the Committee of Creditors (CoC), a body tasked with steering the Corporate Insolvency Resolution Process (CIRP). This paper critically examines the role of the CoC in shaping corporate resolutions, balancing creditor rights with debtor protections, and influencing the efficiency and outcomes of the insolvency process. Through an analysis of statutory frameworks, landmark judicial decisions, and practical implications, the paper reveals the evolving jurisprudence and real-world dynamics surrounding the CoC’s decision-making authority. It argues for a more nuanced understanding of commercial wisdom, transparency, and accountability, especially in light of the increasing scrutiny by courts and stakeholders. Type Information Research Paper LawFoyer International Journal of Doctrinal Legal Research, Volume III, Issue I, Page 787-806. Creative Commons Copyright This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License. © Authors, 2024

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