FROM DEFAULT TO RESOLUTION: A COMPARATIVE ANALYSIS OF BANKRUPTCY PROCEDURES IN INDIA AND RUSSIA
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Abstract
This article presents an in-depth comparative analysis of bankruptcy procedures in India and Russia, two major emerging markets with developing insolvency regimes. It explores the legal frameworks, procedural steps, and institutional roles involved in insolvency resolution within both countries. The study focuses on key areas such as the initiation of bankruptcy cases, moratorium rules, the function of insolvency professionals, and the interaction between creditors and debtors. Particular emphasis is placed on the efficiency of resolution processes, adherence to timelines, and the practical challenges of enforcement and asset recovery. By examining recent legal reforms and judicial decisions, the article aims to shed light on how each country strives to balance creditor rights with debtor rehabilitation. This comparative approach identifies effective practices and lessons that could inform future reforms in insolvency law, ultimately supporting financial stability and effective debt resolution.
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