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VOL. 12, ISSUE 2 (2026)
Corporate insolvency resolution process in India under the Insolvency and Bankruptcy Code 2016
Authors
Deeksha Chettri, Dr. Suneel Kumar
Abstract
This study critically
examines the functioning of the Corporate Insolvency Resolution Process in
practice, with a focus on contemporary issues and emerging trends that
influence its outcomes.The abstract begins by explaining the objectives of the
CIRP, which include the revival of financially distressed companies, protection
of stakeholder interests, promotion of credit discipline, and maximization of
the value of assets. While the legal framework of CIRP is designed to ensure
efficiency and transparency, its implementation often faces delays due to
judicial backlogs, frequent litigation, and procedural complexities. These
delays undermine the core principle of time-bound resolution and often lead to
liquidation instead of revival, defeating the purpose of insolvency resolution.
Overall, this abstract emphasizes that while the Corporate Insolvency
Resolution Process has significantly transformed the insolvency landscape and
improved credit culture, its practical implementation requires continuous
reform and judicial clarity.
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Pages:109-117
How to cite this article:
Deeksha Chettri, Dr. Suneel Kumar "Corporate insolvency resolution process in India under the Insolvency and Bankruptcy Code 2016". International Journal of Law, Vol 12, Issue 2, 2026, Pages 109-117
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