The con­fid­en­ti­al­ity gap in India's cross-border in­solv­ency co­oper­a­tion

De­vel­op­ment sum­mary

Shekhar Pathak and Ab­hijeet Singh Choure point out that, as India has not yet ad­op­ted the UN­CIT­RAL Model Law, Sec­tions 234 and 235 of the In­solv­ency and Bank­ruptcy Code (IBC) serve as stop­gap tools for cross-border co­oper­a­tion. Sec­tion 234 allows re­cip­roc­al ar­range­ments with for­eign states, none of which has yet been made, and Sec­tion 235 con­tains no pro­ced­ur­al safe­guards for sens­it­ive com­mer­cial and per­son­al in­form­a­tion trans­ferred abroad.