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Debtor-Creditor Law
Copyright 2017, Matthew Bender & Company, Inc., a member of the LexisNexis Group.

7-60B Debtor-Creditor Law 60B.syn


Indian Law of Insolvency of Businesses and Individuals


Editor-in-Chief, Theodore Eisenberg and Contributing Authors

Chapter Summary


Indian law treats insolvency of individuals and insolvency of companies separately, with distinct sets of laws governing each.

This chapter of Debtor-Creditor Law provides an overview of Indian insolvency laws for individuals and businesses.

This chapter examines individual bankruptcy proceedings, which are dealt with under the Presidency-Towns Insolvency Act of 1909 and the Provincial Insolvency Act of 1920.

Furthermore, this chapter discusses the following four legislative acts that govern the insolvency and re-structuring process for business entities: (1) Sick Industrial Companies Act, 1985--a preventative statute whereby companies can request re-structuring; (2) Recovery of Debts Due to Banks and Financial Institutions Act, 1993--a law protecting creditors that are banks seeking to collect debts; (3) Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002--a statute allowing secured lenders to take possession of secured assets without court intervention; and (4) Companies Act, 1956--a statute dealing with the liquidation or "winding up" of distressed companies.

Debtor-Creditor Law (Matthew Bender) is a comprehensive multi-volume treatise, written by prominent experts in the field. It offers complete coverage of all aspects of the debtor-creditor relationship, including current case law, practical guidance, and numerous forms for the practitioner. In addition to comprehensive coverage of federal consumer credit legislation and the reprint of related statutes and regulations, Debtor-Creditor Law also features chapters covering Uniform Commercial Code Articles, including Article 2 (Sales), Article 3 (Negotiable Instruments) and Revised Article 9 (Secured Transactions). It covers third party obligations; satisfaction of obligations through non-judicial remedies; and international insolvency law and enforcement of judgments for a variety of countries, including Argentina, Brazil, Canada, Germany, and France.


Assets,Bankruptcy,Creditors,Debtor,Debt Collection,Distribution,India,Insolvency,Liquidation,Presidency-Towns Insolvency Act of 1909,Property,Provincial Insolvency Act of 1920,Recovery of Debts Due to Banks and Financial Institutions Act, 1993,Re-Structuring,Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002,Sick Industrial Companies Act, 1985,Winding Up


See Chapters 33 and 34 for information on U.S. bankruptcy law. See Chapter 61 for discussion of recognition and enforcement of foreign judgments.


See Collier Bankruptcy Manual (Matthew Bender) for definitive section-by-section analysis of the Bankruptcy Code, accompanied by detailed analysis of current rules, case law, and related non-bankruptcy law.

See Collier Family Law and the Bankruptcy Code (Matthew Bender) for a comprehensive, practice-oriented guide to the impact of bankruptcy on family law issues.

See Collier Bankruptcy Exemption Guide (Matthew Bender) for a compilation of exemptions available in every state and territory, along with checklists of exemptions; complete text of statutory authority; text of federal non-Bankruptcy Code exemptions; analysis of constitutional problems; tenancy by the entirety issues; current case highlights; and a research guide.

See Collier Real Estate Transactions & the Bankruptcy Code (Matthew Bender) for authoritative guidance on the impact of bankruptcy on real estate transactions.

For thorough, authoritative discussion of the many tax issues arising in, and in relation to a bankruptcy case, see Collier on Bankruptcy Taxation (Matthew Bender).
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