Insolvency Law Academy’s Resource Centre and Archive is dedicated to Shri Justice D.P. Wadhwa, former Judge of the Supreme Court of India, in recognition of his role in the development of insolvency industry in India.
Resource centres have an important part to play in improving access to information. A resource centre collects and organises materials that are useful to a particular group of people. Materials may be very varied. A resource centre organises the material and actively seeks to share the information that it contains in an easily accessible manner.
The Insolvency Law Academy (ILA) Resource Centre comprises of comprehensive collection and collation of insolvency and related legislations and regulations from jurisdictions around the world; important court decisions; a selection of reports, publications and articles; books on insolvency, bankruptcy and related subjects; and other online resources on insolvency, bankruptcy and turnaround. It is a digital and freely accessible resource. A physical space is planned when hard infrastructure of ILA is established.
We are mindful that the material we seek to collate is vast. The development of both, the ILA Resource Centre and Archive will, thus, be a perpetual work inprogress. It is a humble start by us hoping that soon we will have a formidable bank of resource.
The credit for first bringing the spotlight on need for insolvency reform in India goes to Shri Justice D.P. Wadhwa, a former Judge of the Supreme Court of India. In 1997, Shri Wadhwa attended the INSOL International conference in Brisbane, then the only Indian judge to have received invitation. From his interaction with delegates from the around the globe, he observed how obsolete Indian insolvency law was in comparison with insolvency systems operating in most countries around the world. On his return, Shri Wadhwa requested Late Shri Arun Jaitley, then Senior Advocate (who, as fate would have, later, as India’s Finance Minister, piloted the Insolvency and Bankruptcy Code, 2016 in the Parliament), to set up of a body of experts in India that could become a member association of INSOL International, and advocate the case for modernisation of insolvency law.
Following the efforts of Shri Jaitley and Shri Wadhwa, INSOL India was conceived on September 27, 1997 at a get-together of judges and lawyers hosted by Late Shri Arun Jaitley, Senior Advocate. A committee comprising of Late Shri Arun Jaitley and Shri Sumant Batra (then a young insolvency lawyer, now founder of ILA), drafted the Charter of INSOL India. Shri Justice Manmohan Sarin, then a Judge of the High Court of Delhi was elected as the first President of INSOL India and Sumant Batra as its Founder Secretary.
The task of negotiating the terms of membership of INSOL India with INSOL International and the use of word `INSOL’ in the name of the association was successfully achieved under the leadership of Justice Shri Wadhwa, supported by Shri Sumant Batra. The matter was taken up with the then President of INSOL International, Mr. R. Gordon Marantz, Q.C. by Shri Wadhwa. Later, Mr. Richard C Turton, Past President of INSOL International and Ms. Claire Broughton, the then Executive Director of INSOL International, met Shri Sumant Batra in 1998 to discuss the various modalities of membership and how the two Associations could be of mutual benefit to each other. Shri Wadhwa and Shri Sarin discussed the matter further with them at INSOL International’s Auckland conference.
INSOL India finally became the member of INSOL International in August, 1999. The formation of INSOL India, led by the efforts of Shri Wadhwa, fulfilled the long cherished desire of the members of the legal fraternity, chartered accountants, company secretaries and other persons, bodies and institutions in India, to have a platform to voice the demand for reforms in insolvency and related laws.
Rest, as they, is history. Shri Sumant Batra went on to become the youngest and only president of INSOL International from Asia. It is the foresight of Justice Shri Wadhwa which led to insolvency finding its rightful place in the Indian policy narrative.
Shri D. P. Wadhwa was born on 5th May, 1935 to Shri Dewan Chand Wadhwa and Smt. Vidyawati Wadhwa. He pursued L.L.B. from Delhi University, and enrolled as a pleader in 1958 in the Punjab High Court. He started his practice in Delhi in 1962. In April, 1980, he was appointed Central Government Standing Counsel for Delhi High Court. Shri Wadhwa was appointed as an Additional Judge of Delhi High Court on 12th August, 1983 and was appointed as a permanent Judge on 23rd February, 1984. He was appointed as the Chief Justice of Patna High Court on 29th September, 1984. He was appointed as a Judge of the Supreme Court of India on 21st March, 1997. He superannuated on 5th May, 2000.
Post retirement, Shri Wadhwa was appointed as the President of the National Consumer Disputes Redressal Commission from March 2001 to October 2003. He took additional charge as Chairperson of the Telecom Disputes Settlement and Appellate Tribunal from January 2003 up to May 2005. He also headed the Supreme Court appointed committee which suggested reform of the Public Distribution System.
Shri D.P. Wadhwa lives in New Delhi with his wife, Smt. Krishna Wadhwa, his children and grand-children. His daughter, Geeta Wadhwa and her husband now live in Manchester, UK. His son, Shri Darpan Wadhwa, Senior Advocate and daughter-in-law, Nidhi Jalan, and also his youngest son, Shri Ashwan Wadhwa and his daughter-in-law, Shreya Dhawan, all live in New Delhi.
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Multilateral Institutions Resources
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International Organisations Resources
International Insolvency Law
The Law of Insolvency
Corporate Insolvency Law
Bankruptcy: Law and Practice
The material published on Insolvency Law Academy web site is general in nature. It has been collated to make research, efficiency. It is made available on the understanding that the Insolvency Law Academy is not thereby engaged in rendering professional advice. Before relying on the material in any matter, users should carefully evaluate its accuracy, currency, completeness and relevance for their purposes, and should obtain any appropriate professional advice relevant to their particular circumstances.
In some cases the material may incorporate or summarise views, guidelines or recommendations of third parties. Such material is assembled in good faith, but does not necessarily reflect the considered views of the Insolvency Law Academy, or indicate a commitment to a particular course of action. Links to other web sites and blogs are inserted for convenience and do not constitute endorsement of material at those sites, or any associated organisation, product or service.
All material in the Resource Centre has been taken from the public resources or with the permission of the authors. Source has been mentioned where available. Any person having objection may contact us at message@insolvencylawacademy.com
The resources material has been collated by Insolvency Law Academy from multiple sources including from the websites of the multilateral organisations and international institutions, which have produced such rich content with the help of experts. Insolvency Law Academy takes no credit for this content. The material has only been organised to assist the insolvency fraternity with efficient research.
