Abstract
The present global economic crisis and the accompanying credit-crunch have drawn much attention to the inadequacies of the existing insolvency, liquidation, and winding up law regimes in all jurisdictions across the world. Persistent calls to reform these law regime in India have gained momentum in the anticipation that the present 'Global Recession' will test and inevitably break the ailing insolvency, liquidation, and winding up law regime in India. The clear sentiment and requirement is, for urgent and broad policy-based reforms to these existing law regimes in the country.
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