Clear legislative reform is essential to resolve the existing uncertainties around the power of arbitral tribunals to implead non-signatories.

Subsequent to the Mahakali judgment adopting a clear stance that the MSMED Act would override the provisions of A&C Act, the party autonomy in the arbitration agreements involving an MSME, has taken a backseat.

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.