Scope for Mediation in Indian Insolvency - A Close Look

Abstract

Mediation, in simple terms, is a process by which a neutral third party facilitates a dialogue between disputing parties in the right environment to come to a mutually agreeable ground for settling the dispute, thereby maintaining cordial relationships through co-operation. The nature of this mechanism is adaptive enough for application to different scenarios and can evolve as a complementary process for litigation, thereby reducing judicial stress and overload. This article explores the practicality of mediation practices under the IBC regime.