Title: "A Comparative Analysis of India's Debt Recovery Framework: The Evolution from RDDBFI to IBC"
Authors: Kailash T Shah, Dr. Cheta Pinak Desai
Volume: 9
Issue: 8
Pages: 53-59
Publication Date: 2025/08/28
Abstract:
: This paper presents a comprehensive comparative analysis of India's debt recovery and insolvency frameworks, specifically the Recovery of Debts and Bankruptcy Act (1993), the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act (2002), and the Insolvency and Bankruptcy Code (2016). The study examines the evolution of these laws, focusing on their effectiveness in addressing non-performing assets (NPAs) and the broader implications for economic stability. Through a critical evaluation of each law's framework, procedural efficiency, and creditor empowerment, the paper concludes that the Insolvency and Bankruptcy Code offers a more robust and comprehensive solution for corporate insolvency, blending creditor rights with effective resolution processes. The research highlights the importance of legal reforms in strengthening India's financial ecosystem and offers policy recommendations for enhancing the effectiveness of insolvency proceedings.