Study on Insolvency & Bankruptcy Code (IBC) in India: The Case of Amtek Auto

This paper studies the Insolvency and Bankruptcy Code (IBC) in India by investigating the case of financial sickness of Amtek Auto and the application of IBC thereof at Amtek Auto. After providing a brief overview of India's various insolvency resolution frameworks, we discuss the case by scrolling through the sequence of events during the IBC proceedings against Amtek Auto. The audited balance sheets of the company were analyzed to understand the overall effect of various events on the company's financials. The paper adopts anevent study approach to highlight the impact of contingent and emerging factors during the resolution process. This study indicates the need to consider contextual factors in the insolvency resolution process and how situations may not turn out to be as expected. It is thus important to acknowledge that each resolution case is different, and it is not possible to generalize the routines, procedures, and resolution plans.