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1、Assessing the Borrower-Level Impact of the Insolvency and Bankruptcy Code 2016:A STUDY OF THEFRESH STARTPROCESSAn Indian Ins?tute of Excellence in InsolvencyApril 2024In more than seven years,the Insolvency and Bankruptcy Code,2016,remains inoperative for all natural persons,except the guarantors of

2、 corporate debt.This essentially leaves most individuals,proprietorships(which constitute the majority of Indian micro,small,&medium enterprises,)and partnerships which are not limited liability entities,at the mercy of colonial legislations,which were products of the then political economy.As one m

3、ay expect for a country of nearly 1.5 billion,demographic heterogeneity is inevitable.On one hand,there are individuals higher up in the economic pyramid who can endure or often instigate long drawn and arduous litigations to optimize their relief under any insolvency and bankruptcy(hereafter bankru

4、ptcy)regime.On the other hand,there are low income households and enterprises who may need additional protections under the bankruptcy regime.Thus,looking at the present status,of the personal insolvency matters,there is huge opportunity for performing extensive research which in turn will help stre

5、ngthen Indias insolvency and bankruptcy framework for natural persons.Insolvency Law Academy and Dvara Research Foundation have jointly established a Chair for Personal Insolvency(Chair)to serve as a home for various research projects relating to personal insolvency,and micro,small and medium enterp

6、rises.The Chair focuses on the opportunity for research to help strengthen Indias insolvency and bankruptcy framework for individuals.We are pleased to present this paper written under the auspices of the Chair.Authored by Natasha Agnes Dcruze,Shree Harini V,Dwijaraj Bhattacharya,and Indradeep Ghosh