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

Recovery Channel
(Amount in ‘Crore)
Lok Adalats
DRTs
SARFAESI Act
Total
2012-13
1
No. of cases referred
840691
13408
190537
1044636
2
Amount involved
6600
31000
68100
105700
3
Amount recovered*
400
4400
18500
23300
4
3 as per cent of 2
6
14
27
22
2013-14
1
No. of cases referred
1636957
28258
194,707#
1859922
2
Amount involved
23200
55300
95300
173800
3
Amount recovered*
1400
5300
25300
32000
4
3 as per cent of 2
6
10
27
18
2014-15
1
No. of cases referred
2958313
22004
175355
3155672
2
Amount involved
31000
60400
156800
248200
3
Amount recovered*
1000
4200
25600
30800
4
3 as per cent of 2
3
7
16
12
2015-1
6
1
No. of cases referred
4456634
24537
173582
4654753
2
Amount involved
72000
69300
80100
221400
3
Amount recovered*
3200
6400
13200
22800
4
3 as per cent of 2
4
9
17
10
2016-17
1
No. of cases referred
2152895
28902
80076
2261873
2
Amount involved
105787
67089
113100
285976
3
Amount recovered*
3803
16393
7758
27954
4
3 as per cent of 2
4
24
7
10
Notes: 1. *: Refers to amount recovered during the given year, which could be with reference
to cases referred during the given year as well as during the earlier years. 
2. # : Number of Notices issued 
3. DRTs- Debt Recovery Tribunals.
Though the amount of NPAs recovery by Lok 
Adalats was in upward trend but the percentage of 
recovery trend was fluctuating, the recovery rate of 
NPAs by the DRTs was increasing and the table clearly 
shows that the SARFAESI Act recovers the highest 
amount of NPAs. Therefore, it was unambiguously 
clear that there was a need of a reform in legislation for 
the financial progress of India. 
STATE OF NPAS IN INDIAN ECONOMY 
AFTER THE ENACTMENT OF IBC
– A report 
of 2017-2018 released by the RBI on the trends and 
progress of banking in India had helped the researcher 
to interpret the position of recovery mechanisms in the 
Indian economy prior to the enactment of IBC and post 
its enactment (Chart 2). 

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63
№ 2 (13)
Апрель-июнь, 2021 йил
Chart 2 : Recovery by banks through various mechanisms
This report shows that the recovery made through the 
route of IBC has given better realisation to the lenders 
in comparison to the erstwhile channels of recovery. 
The graph shows that the recovery percentage under the 
earlier regimes in 2017-18 was 12.4% approx. whilst it 
was 41.3% approx under the IBC which continuously 
increased to 46.1% in the first half of 2018-2019. 
Table 2
NPAs of SCBs recovered through various channels
Source:
 Report on Trend and Progress of Banking in India 2018-19 (which sourced from Off-site returns, 
IBBI and RBI).
Notes:
 Figures relating to IBC for 2017-18 and 2018-19 are calculated by adding quarterly numbers from 
IBBI newsletters.
Table 2, shows the comparative figures of 
recovery of NPAs through different channels, after the 
implementation of IBC. It can be distinctly concluded 
that IBC alone in 2018-19 accounted for 42.5 per cent 
of recovery of NPAs and on the other hand merely 1.6 
per cent recovery was made through other channels. 
The continuous improvement of the Indian economy in 
the domestic credit alongwith the stronger insolvency 

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64
Iqtisodiyot: 
tahlillar va prognozlar
legislation has attracted investors from abroad because 
they now seek India as a legible place for investment 
owing to the reasons as, smaller timeframe for resolution 
reduces risk of losing investment and flexible exit 
policy, even when company becomes insolvent the IBC 
gears towards maximum realisation of value of assets, 
etc. India received FDI worth USD 42 Billion in 2018 
[9]. In 2019, India was the ninth largest recipient of 
FDI and attracted USD 49 Billion of FDI in 2019 [10]. 
According to CRISIL, GNPAs was 11.5% in March 
2018 which declined to 9.3% in March 2019 and it was 
also estimated that GNPAs would go down to 8% by 
March 2020 [11]. There is still scope for improving 
the resolution framework of stressed assets in the 
economy. Eventually, keeping in view the above charts 
and explanations, it can be concluded that all aspects 
of IBC have to be examined which would rehabilitate 
corporate debtor or provide time bound resolution, or 
recover stressed assets or liquidate the debtor. 
The IBC for the first time in India has brought a 
regulated profession of Insolvency Professionals 
to act as Resolution Professional (RP) in corporate 
resolution, liquidator in case of liquidation and 
bankruptcy trustee in case of individual bankruptcy. In 
corporate resolution RP performs various tasks under 
the control of Committee of Creditors (CoC), he takes 
over the management of the company, he has to ensure 
that the business goes uninterrupted and his major task 
is to bring the creditors on table and have a feasible 
resolution plan which is accepted to by everyone. 
Therefore, the RP is required to possess the appropriate 
skills, knowledge and expertise to ensure that the 
entire proceedings are conducted in an effective and 
efficient manner. The UNCITRAL Legislative Guide 
on Insolvency Law recognises the role of insolvency 
representative [12]. BLRC also emphasized and 
recommended to enable an industry of licensed and 
regulated professionals, termed as RPs to handle the 
entire insolvency process [13]. The role of RP ends on 
the approval of the resolution plan by the Adjudicating 
Authority and so work of actual restructuring of the 
company does not comes under his purview. His role 
should extend till the end of restructuring process. 
In this research work the researcher aims to explore 
and examine the impact of the IBC framework on the 
Indian Economy by analysing and comparing the pre 
IBC and post IBC data through parameters such as, 
NPAs, FDIs and M&A deals in India, to find out that 
has the IBC really been instrumental by becoming a 
powerful legislation in the economic development 
of India and make recommendations for expanding 
the role of Insolvency Resolution Professional as 
Turnaround Professionals for a comprehensive and 
speedy restructuring process. This research study is the 
need of the hour.