The IBBI has realized the value of market-driven resolution which it has effectively pivoted towards. The timing of the notification of these amendments must also be appreciated. India is notoriously a slow insolvency jurisdiction, and such perceptions can seriously damage credit availability in markets.

The pre-pack insolvency framework was crafted with the best of intentions. It aimed to protect MSMEs from the procedural weight of CIRP while ensuring that their businesses could be salvaged quickly and quietly. But in practice, it remains a tool too complex, too exclusive, and too disconnected from how MSMEs actually function.

India’s unique structure makes both asset-wise bids and DIP financing hard to pull off. Courts and regulators have shown the law can support flexible sales and super-priority finance, but operationally, every step bumps into entrenched obstacles.

[ Apeksha is a student at National University of Study and Research in Law. ] The Insolvency and Bankruptcy Code 2016  ( IBC ) was...

The proposal, if accepted, will provide a fillip to exploring mediation in other aspects of insolvency. While insolvency mediation is an intricate issue, proactive proposals will facilitate stakeholder dialogue and aid in resolving inconsistencies.

The IBBI’s 2025 amendments significantly improve India’s insolvency framework by making it more aligned with global best practices.

The Bhushan Power case will be studied as a cautionary tale. On one side, it underscores that insolvency laws are not toy models to be treated lightly; procedural rules serve the code’s integrity. On the other, it delivers a jolt by showing that even long-implemented deals can be unwound for technical lapses, a double-edged signal to investors and professionals alike.

The divergent fate of Byju’s-Aakash and BPSL indicate the increasing complexities of corporate restructuring in India, where the inflexible requirements of statutory compliance frequently come into conflict with the exigencies of business rescue.

Although the Supreme Court of India’s decision has garnered significant criticism, it is not without its merits. It emphasizes how the integrity of the insolvency process must remain sacred. The IBC transcends the role of a simple debt recovery mechanism; it is a framework rooted in legal principles and the equitable treatment of all stakeholders involved.

In this article, the author identifies two major challenges revealed by the impugned judgments: lack of a statutory time limit to implement resolution plans and imprecise role of monitoring committees in ensuring implementation of resolution plans.

The reverse CIRP model remains judicially constructed and lacks a statutory base. The reforms provide structure and direction but require legislative harmonization to fully stabilize the process.

It is argued that the SC could have explored other possible remedies, such as sending the resolution plan back to CoC to remedy the non-compliances and imposing penalties on responsible entities.

While the BPSL-JSW is already forming into a landmark precedent in the IBC landscape, it risks creating a precedent, which undermines the revival aspect of IBC and has the possibility of deterring future CIRP proceedings.

The Kalyani Transco judgement has highlighted certain inefficiencies in the Code, calling for a revaluation of its provisions.

The insolvency framework for individuals, sole proprietors, and partnership firms in India is at a transformative juncture.

A regulatory shift is needed. ‘Super-priority utility claims’ would introduce vital services protection, and balance would be maintained through a tiered debt resolution system. A non-retroactivity clause can protect resolution applicants from post settlement litigation. Moreover, a strategically funded PCLF would guard against unforeseen claims and improve CIRP performance.

As the IBC framework continues to evolve, successful distressed M&A will require specialized expertise, innovative structuring, and careful navigation of the unique legal complexities that characterize acquisitions under CIRP.

The NCLT’s decision reaffirms the principle that a clear distinction must be maintained between the provision of IBC and PMLA.

The article challenges the ruling in Independent Sugar by examining the statutory provisions and the judicial approach to the issue.

The recent amendment to the Liquidation Regulations has introduced a measure of certainty and clarity for homebuyers.

To ensure proper functioning of internal market, it is crucial to eliminate incentives for parties to move assets or judicial proceedings.

This article presents flexible resolution approach as a way forward to curb the menace emanating from inclusion of going concern sale.

Not only did the NCLT decision disallow the repossession of aircraft by the lessor, but it also projected India as a risky jurisdiction.

ARCs have the scope of not just reviving assets but also reviving businesses which would contribute towards a more permanent resolution.