Sukrit R Kapoor Highlights Need for Robust Framework in Group Insolvency Regime
In a recent article published by BusinessLine, Sukrit R Kapoor emphasized the critical role of a well-defined legal framework in determining the success of out-of-court settlements under the Insolvency and Bankruptcy Code (IBC).
Commenting on the evolving insolvency landscape in India, Sukrit noted that while out-of-court mechanisms hold significant promise, their effectiveness is closely tied to the clarity and implementation of supporting regulations. He specifically pointed out that the rules governing group insolvency are yet to be formally established.
“The rules for group insolvency are yet to be framed. It would be ideal for the drafters to ensure that the Indian insolvency regime is on a par with global insolvency frameworks,” he stated.
His remarks highlight the importance of aligning India’s insolvency processes with international best practices, particularly as businesses increasingly operate across complex group structures. A comprehensive and globally competitive framework, he suggested, would not only enhance efficiency but also strengthen stakeholder confidence in alternative resolution mechanisms.
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