Insolvency regulator working to bring mediation in insolvency cases

India’s regulator for insolvency proceedings is considering mediation to resolve cases and will publish a discussion paper for its proposal.

There were 1,852 insolvency cases as of March 2022, according to the Insolvency and Bankruptcy Board of India (IBBI). A source privy to IBBI’s discussion said mediation might address the issue of courts delaying the insolvency process. “The company law tribunals are working with half their capacity. The institution has a lot of cases on its plate and not enough manpower,” said the source.

Separately, a Bill on mediation is before India’s Parliament. “Insolvency is not an exception under this