Call for Papers

Home Call for Papers
In December 2016, the Indian Parliament passed the Insolvency and Bankruptcy Code (IBC). This is one of the most important legal reforms in the Indian corporate sector. The IBC seeks ‘. . . to maximise the value of assets, promote entrepreneurship, promote the availability of credit and balance the interests of all stakeholders’). Over the past six years, the IBC, the Insolvency and Bankruptcy Board of India (IBBI), the Adjudicating Authorities (the NCLT) and the Appellate Authority (the NCLAT) have dealt with larger number of cases of insolvency and bankruptcy, and streamlined the path of addressing corporate distress either through resolution, restructuring or liquidation. Starting from the implementation of the Code, setting up of new organisation and complete infrastructure to handle insolvency activities, the Indian regulatory environment for insolvency and bankruptcy of corporates, has witnessed a remarkable transition from an archaic resolution and liquidation process to a modern one attempting and facilitating faster resolution of distressed companies and assets. The Supreme Court of India has been proactively clarifying a few provisions of the Code as they have arisen during the course of its implementation. Having undergone six amendments since its enactment, the Code continues to be a work in progress.
 

The institutional mechanisms have handled COVID-19 pandemic-induced disruptions. However, the critical view is judicial discretion and delays are making IBC less effective than what was envisaged, emphasizing addressing judicial reforms and administrative bottlenecks.

The insolvency resolution regime is an important part of a well-governed polity and efficient economy. It enables the creation of an environment that is conducive to entrepreneurship and appropriate risk-taking while safeguarding creditors, as well as providing expertise and service for businesses and persons facing financial stress.

A few academic studies (Bose, Filomeni and Mallick (2021), Ghosh (2022),  Jose et al. (2020)) have been providing divergent empirical evidence and classic cases are evolving in the interpretation of the interest of multiple stakeholders. However, still, multiple issues on the effectiveness of institutional and legal mechanisms and their impact on corporate finance and the interests of stakeholders are yet to be addressed empirically.

Academic knowledge, empirical evidence from rigorous analysis, and expertise can help inform, design, improve and test policy and ultimately make government policy better. Rigorous research can bring evidence to support policymakers in addressing challenges. Thus this conference is a forum for academic researchers, professionals, financial creditors, and policymakers to discuss the impending issues of making IBC a more effective institutional mechanism.

This conference is inviting research papers in the area of Corporate finance, distress, resolution mechanism, valuation issues, and protection of multiple stakeholders.