Mediation in Insolvency: A Game Changer in Viksit Bharat
Year: 2025
Author: A K Sikri and Sumant Batra
The Insolvency and Bankruptcy Code 2016 is a defining reform in the Indian financial landscape. Its efficiency and efficacy in terms of outcomes has been inspiring. Since its promulgation, the Code has brought about many path breaking changes in the financial eco-system including a seismic shift in the credit culture in the country and behavioural change in the debtor-creditor relationship.
Insolvency proceedings can be complex. Although not adversarial, disputes may arise between creditors, debtors, and other stakeholders, delaying and disrupting insolvency proceedings. Mediation offers a viable alternative to traditional litigation to resolve such disputes. It can provide a more efficient, less costly, and flexible method of resolving disputes than traditional court proceedings. Fostering consensual resolutions can help in preserving business viability and allow tailored solutions that meet the specific needs of the parties involved. Mediation can help in advancing the goal of the Code to maximise the value of debtor's assets, by timely resolution of insolvency cases.
This book, with contribution by some of the top global experts on insolvency or mediation, or on both, provides detailed analytical assessments of use and application of mediation in insolvency across the world. The book presents a comprehensive view of the multidimensional aspects and benefits of mediation.A valuable collection, not just for the practitioners and students of insolvency policy and practice as also mediation, the book will educate and enlighten anyone who is a stakeholder in the journey of transformation of India's insolvency and dispute resolution eco-system.
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