insolvency
Duration of Indian Insolvency Proceedings
How Long Do Indian Insolvency Proceedings Take?
By  Mihir Dharap  |  08 Jul 2016  |  Upvotes: 0  | 

1 Answer(s)

Prateek Kumar
Advocate

Insolvency and bankruptcy proceedings in India are extremely lengthy, running anywhere from three to four years and as long as 10 years in certain cases. The establishment of the BIFR was an attempt by the Indian regulators to streamline and expedite insolvency proceedings in India. This goal, however, was defeated in practice due in large part to fraud and manipulation of the regime by companies that desired to avoid paying their debts or companies willing to manufacture their books to avoid BIFR proceedings entirely.

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