Executive Summary

COVID-19 has caused a lockdown in India since March 25, 2020. Most businesses and offices are closed with people working from home; industries, factories and manufacturing units have not been operational and there has been an economic slowdown overall. As a consequence, the coming months will witness a rise in insolvency applications and claims in arbitration for breach of contract. To ensure that businesses are not pushed into insolvency because of the economic slump, the Indian Government has proposed to suspend the operation of the Insolvency and Bankruptcy Code, 2016 but ...