Abstract
This article is a review of literature on the need for alternative bankruptcy resolution framework in India. The study explores the context and background to the recent initiation of limited Pre-Packaged Insolvency in India. The article makes a strong case for having a private and pre-negotiated mode of debt resolution along with the existing CIRP framework in India. The article provides a comparative perspective of CIRP and Pre-Pack driven resolution model in India. The research paper also addresses some of the potential challenges and concerns related to initiation of Pre-Pack in India and accordingly discusses the relevant safeguards for the same. Lastly, the study also provide a brief view of Pre-Pack model currently practiced in the USA.
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