In India, the Corporate Insolvency Resolution Process (“CIRP”) takes place under the Insolvency and Bankruptcy Code, 2016 (“IBC”). It involves a Resolution Professional inviting resolution plans for the corporate debtor undergoing insolvency. These plans are submitted by various Resolution Applicants and the best resolution plan is approved by the Committee of Creditors and sanctioned by the National Company Law Tribunal. Thus, from an acquisition perspective, the potential acquirer of the stressed asset is required to provide the best bid (in the form of the resolution plan) for the stressed asset which would be able to garner the approval of the Committee of Creditors. The CIRP route has led to successful acquisitions across variegated sectors from steel (Essar Steel) to textiles (Alok Industries) and has become a new and effective tool to undertake acquisitions for prospective acquirers providing a simpler and faster way for acquisition of stressed assets. However, acquisitions through this process are not yet free from their imperfections and there are certain problems, which if addressed, could pave a way for fruitful investments in the Indian economy. This would bolster an investment and acquisition friendly regime in India improving our nation's ranking on the ease of doing business index even further. This article seeks to analyse CIRP as an effective route for acquisitions and identify such problems which are relevant from an acquisition perspective, with the objective and hope that a discussion on these issues can help strengthen and stimulate successful acquisitions and investments in the Indian economy.

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分析企业破产解决程序，作为在印度进行收购的途径

在印度，根据2016年《破产与破产法》（“ IBC”）进行公司破产解决程序（“ CIRP”）。它涉及解决专家为正在破产的公司债务人邀请解决计划。这些计划是由各种解决方案申请人提交的，最佳解决方案是由债权人委员会批准并由国家公司法法庭批准的。因此，从收购的角度来看，要求压力资产的潜在购买者为压力资产提供最佳出价（以解决方案的形式），以便能够获得债权人委员会的批准。CIRP路线已成功实现了从钢铁（Essar Steel）到纺织品（Alok Industries）各个领域的成功收购，并且已成为一种新的有效工具，可以为潜在的收购者进行收购，提供了一种更简单快捷的方式来收购压力资产。但是，通过这一过程进行的收购尚不能摆脱其缺陷，并且存在某些问题，如果解决这些问题，可以为在印度经济中取得丰硕的投资铺平道路。这将加强印度在投资和收购方面的友好制度，从而进一步提高我国在经商容易程度指数上的排名。本文旨在分析CIRP作为进行收购的有效途径，并从收购的角度确定与此类问题相关的问题，