The research article has been divided into three sections to achieve the core aim. The first section provides a background to the paper. The second section compares the essential provisions in the United Nations Commission on International Trade Law (UNCITRAL) Model Law with the relevant provisions of the Insolvency and Bankruptcy Code, 2016 (IBC). The third section explores the challenges and opportunities regarding the cross-border system in the IBC, including a critical analysis of the Insolvency Law Committee’s (ILC) recommendations. The last section of the research article lays down the concluding remarks and suggestions.

中文翻译：

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2016年《破产与破产法》中实施跨境破产制度的必要性

研究文章分为三个部分以实现核心目标。第一部分提供了本文的背景。第二部分将联合国国际贸易法委员会（UNCITRAL）示范法中的基本规定与2016年《破产与破产法》（IBC）的相关规定进行了比较。第三部分探讨了IBC中跨境系统的挑战和机遇，包括对破产法委员会（ILC）建议的批判性分析。研究文章的最后一部分给出了结论和建议。