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ICAI Journal- May 2024 edition
Revolutionizing Resolution: Proposals for Sculpting India's IBC 2.0 Framework- By CA. Reshma Mittal

As India continues to refine its insolvency and bankruptcy ecosystem, the opportunity to introduce advanced reforms tailored to contemporary challenges becomes increasingly pertinent. This article presents a compendium of strategic improvements recommended for the next iteration of the Insolvency and Bankruptcy Code (IBC), encapsulated in a visionary IBC 2.0 framework. The author’s suggestions are aimed at enhancing procedural efficacy, safeguarding stakeholder interests, and strengthening the overall economic foundation.

ICAI Journal- Sept 2021 edition

Pre-Packaged Insolvency Resolution Process For MSMEs- By CA. Reshma Mittal

The Micro, Small and Medium Enterprises (MSMEs) are susceptible to distress and failures on account of variety of factors such of undiversified business portfolio,
supply chain issues, overdependence on key markets and limited availability of fresh credit. Pre- Packaged insolvency resolution process is a hybrid framework that empowers stakeholders to resolve the stress in MSMEs. It is quick and discreet way of completing the insolvency resolution process with a blend of formal and informal framework. In the process promoters remain in possession of assets and the business is run by them, however creditors decide commercial matters.

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IIIPCAI Journal- July 2025 edition
Challenges in the Personal Insolvency Resolution Process under the IBC- By CA. Reshma Mittal
This article examines the critical challenges faced in the Personal Insolvency Resolution Process (PIRP) under the Insolvency and Bankruptcy Code, 2016 (IBC), particularly with respect to Personal Guarantors (PGs) to Corporate Debtor (CD). Despite the Code’s timebound framework, practical issues such as delay in obtaining details of PGs, incomplete Statements of Affairs, outdated limits on excluded assets, rigid voting thresholds for repayment plan approval etc. hinder resolution. The challenges inherent in the PIRP underscore the pressing need for thoughtful amendments and reforms. In this backdrop, the present article analyses various hurdles and recommends specific solutions to address them, which according to the author, will not only benefit individual PGs by affording them a fair chance to recover but will also safeguard the interests of creditors, ultimately fostering a more resilient financial ecosystem in the country.

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