Paper Contents
Abstract
This research thoroughly investigates the complex connection between illness and financial failure in the corporate sector of India, specifically emphasising the critical assessment of current insolvency legislation. Amid economic downturns, global crises, and internal issues, stakeholders, policymakers, and legal practitioners must comprehend the consequences of sickness and insolvency. The examination commences by examining the intricate nature of corporate sickness, elucidating the diverse elements that contribute to a company's financial difficulty. Utilising empirical data and case studies, the report outlines the sequential impact of illness, including reduced production, disrupted supply chains, and negative outcomes for employees and creditors.The next section examines the present condition of insolvency laws in India, thoroughly evaluating their effectiveness in dealing with the changing dynamics of business difficulty. The report assesses the strengths and shortcomings of the current legal infrastructure by analysing important legislative frameworks such as the Insolvency and Bankruptcy Code (IBC). This evaluation is conducted to facilitate prompt settlement, safeguard the interests of stakeholders, and cultivating a favourable atmosphere for business rehabilitation. Furthermore, the paper examines the real-world difficulties and uncertainties in enforcing insolvency laws, taking into account the intricate variations of distress in various sectors. The text explores the responsibilities of regulatory organisations, insolvency specialists, and the judiciary in managing the intricacies of troubled corporate situations.Keywords: Insolvency, stakeholders, Bankruptcy, financial
Copyright
Copyright © 2024 Ravikant Dixit. This is an open access article distributed under the Creative Commons Attribution License.
