In response to a growing need for a unified insolvency code in India, the government formed the Bankruptcy Law Reform Committee (BLRC) to examine and strengthen the country's bankruptcy and insolvency mandates.

Alvarez & Marsal (A&M) responded to the BLRC's request for industry stakeholders' commentary through a study on India's current bankruptcy landscape, conducted with lenders, law firms, asset reconstruction companies, investment banks and special situation investors.

In its new report, A&M identifies practical challenges in the existing market, aggregates views of industry practitioners and highlights best practices from other jurisdictions that would best suit the Indian context.

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