Introduction
Consolidated code
Comment
No single umbrella legislation governs insolvency and bankruptcy proceedings in India. Instead, there is a slew of legislation governing the legal framework, including:
- the Companies Act 2013;
- the Sick Industrial Companies (Special Provisions) Act 1985;
- the Recovery of Debts Due to Banks and Financial Institutions Act 1993;
- the Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest Act 2002;
- the Presidency Towns Insolvency Act 1909;
- the Provincial Insolvency Act 1920; and
- forums such as the Debts Recovery Tribunal, the company courts and the National Company Law Tribunal (this tribunal is proposed by the Com…
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