Sumant Batra’s ‘ Corporate Insolvency’ Launched in New Delhi
New Delhi, July 12 (LAB), A significant addition to India’s legal literature was marked with the launch of “Corporate Insolvency” by Sumant Batra in New Delhi.
The event was graced by Justice A.K. Sikri, Former Supreme Court Judge and currently Judge at the Singapore International Commercial Court (SICC), as Chief Guest; Justice Ashok Bhushan, Former Supreme Court Judge and Chairman of the National Company Law Appellate Tribunal (NCLAT), as Guest of Honour; along with Mr. Amitabh Kant, Former G20 Sherpa, and Mr. Sanjeev Sanyal, noted economist and Member of the Prime Minister’s Economic Advisory Council.
Justice Sikri, who has written the foreword to the book, described it as “a rigorous, multi-dimensional, and policy-relevant work that elucidates the dynamic nature and intricate complexities of corporate insolvency law in India.” He added:
“This book is not just about discussion but offers practical insights and shows how India is moving towards becoming Viksit Bharat.”
The 1440-page hardback edition, published by Eastern Book Company (EBC), is the second edition of Sumant Batra’s book, the first having been published in 2017, just a year after the Insolvency and Bankruptcy Code (IBC) was introduced in 2016.
Sumeet Malik of EBC stated, “We consider ourselves trustees of the legacy of authors and their books, custodians of thoughts and facts. Our editorial team worked closely with Mr. Batra until three days before publishing to finalise the chapters.”
The book comprises 36 chapters, taking readers through the history of India’s insolvency laws, legislative milestones, and the need for a modern framework to revive struggling businesses.
About Sumant Batra
Sumant Batra is an eminent insolvency lawyer with three decades of experience, ranging from policy-making to drafting legislation, advising global organisations like the IMF, World Bank, OECD, and ADB, and representing clients in nearly all major IBC cases. He was the youngest and first Asian President of INSOL International and remains the only Indian elected as an International Fellow of the American College of Bankruptcy.
He also founded SIPI, an independent national think tank for the insolvency industry, and leads multiple cultural initiatives including the Indian Cinema Heritage Foundation, Kumaon Literary Festival, and Fellows of Nature. His other books include “The Indians” and “An Actor’s Actor – The Authorised Biography of Sanjeev Kumar.”
Justice Sikri emphasised that IBC was introduced under the leadership of Late Shri Arun Jaitley, former Law and Finance Minister, to promote a culture of ease of doing business in India. The book is dedicated to him.
Justice Ashok Bhushan called the book, “A timeline and toolkit not only for practitioners but also for academicians and students. Sumant Batra’s works have helped India bring about legal reforms and provide practical solutions. This book shows that closing down a company is no longer a sign of failure; the enterprise can heal, recover, and try again.”
Mr. Amitabh Kant said, “The book elaborately records the circumstances leading to the enactment of the IBC, documents its eight-year journey, and crystal gazes into the future, setting aspirations for next-generation reforms needed to achieve the lofty goal of Viksit Bharat.”
Mr. Sanjeev Sanyal noted, “Much water has flown under the bridge… I am very pleased that Mr. Batra has brought us up to date on this journey.”
The book argues that insolvency should not be seen as a failure but as a strategic financial reset. Sumant Batra points out that in countries like the USA, bankruptcy laws help recycle capital, revive viable businesses, and provide structured exits for unviable ones. He emphasises that India must embrace this philosophy of second chances, especially for startups and young entrepreneurs.
While corporate insolvency provisions under IBC have been effectively operationalised, individual insolvency provisions remain unimplemented, creating a critical gap. The book suggests that implementing individual insolvency laws will encourage bold entrepreneurship, reduce the fear of lifelong debt, and attract global venture capital to India.
Dr. M.S. Sahoo, Former Chairperson of IBBI, called it, “A book of deep insights, practical reflections, and scholarly rigour, essential for policymakers, professionals, scholars, and students.”
The launch concluded with a question-answer session moderated by Ms. Shreesha Merta, former Technical Member, NCLAT.
As the book powerfully reminds, “Insolvency is not an end , it is a reset for a stronger, more resilient tomorrow.”
“Insolvency is not about failure – it is about resetting for a better tomorrow.”
Credit UNI