Protection of Resolution Professionals in India: The Frontline Workers in a CIRP

Abstract

Of late, the harsh realities of being an Insolvency Resolution Professional (RP) in the Indian insolvency regime have come to the forefront. RPs have been kidnapped, beaten up, arrested, threatened and prosecuted for criminal charges. Unfortunately, both the United Nations Conference on International Trade Law (UNCITRAL) Guide on Insolvency and the domestic Insolvency and Bankruptcy Code in India, do not provide for a foolproof mechanism required to arm the RPs to defend against such attacks. While the Courts have come to the rescue of RPs who have been victims to such violence, this article argues for a more radical change through a possible amendment in the Code which enables strict corporeal punishment for such violation of personal liberties. resolution professional, threat, police protection, discharge of duty and insolvency code