IDEAS home Printed from https://ideas.repec.org/h/spr/isbchp/978-981-16-0854-4_6.html
   My bibliography  Save this book chapter

Prepacks Under the IBC: A Tussle Between Speed and Fair Process

In: Insolvency and Bankruptcy Reforms in India

Author

Listed:
  • Aparna Ravi

    (Samvad Partners)

Abstract

The insolvency resolution process, as envisaged by the Bankruptcy Law Reforms Committee was purely market driven with minimal regulatory or judicial involvement. Due to various amendments over time, there has been an attempt to control this process. However, one element that the law has remained silent on is the practice of prepacks. Prepacks are essentially an out-of-court settlement between the creditors, that gain the legal sanctity attached to a resolved insolvency proceeding. This way, prepacks get best of both worlds: a settlement between creditors with the coercive force of law. In this article, I review the current legislative and regulatory scheme in India, and present hindrances to the smooth operation for prepacks. Drawing from the learnings of the UK and USA, which make clear legislative provisions for operation of prepacks, I further analyse if legislative interference is required for the growing the practice of prepacks in India, and to what extent.

Suggested Citation

  • Aparna Ravi, 2022. "Prepacks Under the IBC: A Tussle Between Speed and Fair Process," India Studies in Business and Economics, in: Susan Thomas (ed.), Insolvency and Bankruptcy Reforms in India, pages 121-135, Springer.
    • Handle: RePEc:spr:isbchp:978-981-16-0854-4_6
    DOI: 10.1007/978-981-16-0854-4_6
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:spr:isbchp:978-981-16-0854-4_6. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.