Диссертацияларининг асосий илмий натижаларини чоп этиш тавсия этилган илмий нашрлар ва Россия

Binoy Joy KATTADIYIL,
PhD (in Economics), 
Research Scholar Westminster International University, Tashkent
Email: 
[e-mail],
Dr. Bakhtiyor ISLAMOV,
Professor, DSc (in Economics), Professor of International Economics
Plekhanov Russian University of Economics Tashkent Branch,
Email: 
[e-mail]
Insolvency and bankruptcy code, 
a need of the hour
a unified framework for the resolution of insolvency 
and bankruptcy matters in a time bound manner, 
for promoting entrepreneurship and availability of 
credit, for improving the ease of doing business and 
facilitating more investments which will lead to higher 
economic growth. Banking Law Reforms Committee 
(BLRC) found the UNCITRAL Legislative Guide on 
Insolvency to be an effective benchmark of principles 
on which the foundation of a new design of Insolvency 
and Bankruptcy Resolution in India should be based 
(UNCITRAL, 2005) [2]. Accordingly, IBC is founded 
on these principles. It has been enacted when the Indian 
economy was in the midst of soaring NPAs, falling 
GDP, bad credit perspective in the country, when the 
domestic banking industry was struggling to cope with 
a welter of bad loans and last but not the least the Mallya 
Saga. The banking crisis of rising NPAs has helped in 
hastening the processes that led to the IBC. The IBC is 
expected to recover the value either through resolution 
or re-engineering/restructuring or through liquidation 
and distribute it to the creditors within a finite timeline. 
At the outset the Internal Advisory Committee of RBI 
recognized 12 business accounts which comprised 25% 
of NPAs of the Indian banks which needed immediate 
resolution under IBC. This law has reconceptualised the 
Insolvency Resolution framework in the country and is 
considered as the second biggest economic reform next 
to GST. Since its implementation, the Government has