EFFECTS OF INDIVIDUAL INSOLVENCY AND PPIRP (PRE-PACKAGED INSOLVENCY RESOLUTION PROCESS) ON THE INDIAN BUSINESS ENVIRONMENT
DOI:
https://doi.org/10.29121/shodhkosh.v5.i6.2024.5122Abstract [English]
The introduction of the Insolvency and Bankruptcy Code (IBC), 2016 marked a paradigm shift in India’s insolvency framework. While corporate insolvency has received significant attention, the frameworks for individual insolvency and the Pre-Packaged Insolvency Resolution Process (PPIRP) are emerging mechanisms aimed at easing debt resolution. This paper explores the implications of individual insolvency and PPIRP on India’s business environment, with a focus on micro, small, and medium enterprises (MSMEs), financial institutions, and entrepreneurial risk-taking. The paper analyses policy developments, legal challenges, and stakeholder impact while offering suggestions for more effective implementation.
References
Insolvency and Bankruptcy Code, 2016
Ministry of Corporate Affairs notifications and reports
IBBI Discussion Papers and Annual Reports
Research articles from NLU journals, NIPFP, and Economic & Political Weekly
World Bank Ease of Doing Business Reports (India-specific)
https://www.jstor.org/journal/indiecrevi
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Chakrabarti, R. (2020). "The Insolvency and Bankruptcy Code: An Analysis of its Impact on MSMEs and Individual Insolvency".
Choudhury, P. (2021). "Pre-Packaged Insolvency Resolution Process: A New Way for MSMEs to Resolve Financial Distress".
Bhowmik, D. (2021). "PPIRP: A Silver Lining for MSMEs in India?".
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RBI (2020). "Annual Report on Credit Flow to MSMEs".
Reserve Bank of India
Sharma, S. (2020). "Implementation of Pre-Packaged Insolvency Resolution Process in India: A Case Study of MSME Resolution".
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Copyright (c) 2024 Manoj Kumar Anand, Rajiv Sharma
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