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Bibek Debroy is Director of the Rajiv Gandhi Institute for
Contemporary Studies, Rajiv Gandhi Foundation, New Delhi. He is a professional economist and
was educated in Presidency College (Calcutta), Delhi School of Economics and Trinity College
(Cambridge). He has worked at Presidency College (Calcutta), Gokhale Institute of Politics and
Econo-mics (Pune), Indian Institute of Foreign Trade (Delhi), National Council of Applied
Economic Research (Delhi) and as Consultant, Department of Economic Affairs, Ministry of
Finance, Government of India. He was also the Director for a project known as LARGE, set up by
the Ministry of Finance and UNDP to examine legal reforms. He is the author and editor of
several books, papers and popular articles and is also Consulting Editor with Financial
Express. Bibek Debroy’s special interests are international trade (in particular the WTO),
law reform and the political economy of liberalisation in India. He has been listed in many
bibliographies and has been a member of several government committees. |
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Laveesh Bhandari, completed his Ph.D. in Economics from Boston
University, USA in 1996. He received the Exim Bank Best Thesis in International Economics
award in 1996. Previously he was awarded the Hite Fellowship for his work on International
finance. He has taught economics at Boston University and IIT Delhi and was also the Managing
Editor of the Journal of Emerging Market Finance. He worked on Industry and Infrastructure
development issues at NCAER between 1996 and 2000 and since has been leading socio-economic
research at Indicus Analytics.
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The Friedrich Naumann Foundation: |
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The Friedrich Naumann
Foundation is a German non-profit institution primarily engaged in the strengthening of
democratic and pluralist development both in the industrialised and the developing world. The
Naumann Foundation has its activities spread over in more than 80 countries across the world.
The Friedrich Naumann Foundation promotes the principle of freedom in human dignity, both
in Germany as well as abroad together with its partners — through political education,
political advice and political dialogue. The Foundation has the following objectives :
- To sensitise people on political issues and motivate them to get involved.
- To provide liberal answers to the burning issues of the day, and to incorporate new
findings and experiences — including those from other cultures — into liberal
solutions.
- To strive for cooperation in development through free international trade and through
helping to establish free and responsible civic societies in developing countries.
- To work towards worldwide victory of human and civil rights.
Wherever freedom, democracy and rule of law are just beginning to gain a foothold, the
Friedrich Naumann Foundation is particularly called upon to lend its expertise and assume
responsibility. As the only liberal organisation of its kind worldwide, the Foundation is
active in many countries of the world, helping to lay the foundation for a future in freedom
that bears responsibility for coming generations.
In South Asia, where the political situation is characterised by the sharpest of contrasts,
the Foundation faces some important challenges to accompany and support the distinct
endeavours to move from feudalistic structures to democracy. The Foundation offers advice and
training for people in positions of leadership. Liberal solutions are worked out for the
problems of the region through workshops and studies. The Foundation always works in
collaboration with local partners and active organisations operating in the national and
regional level of South Asia. |
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The Rajiv Gandhi Institute for
Contemporary Studies (RGICS): |
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The Rajiv Gandhi Institute
for Contemporary Studies (RGICS), New Delhi is part of the Rajiv Gandhi Foundation and
functions as a think tank. The target audience of the RGICS includes parliamentarians,
legislators and representatives of political parties, public policy makers and their advisers,
the intelligentsia, the media and various interest groups. To interface with these groups,
RGICS uses different modes of communication like books, monographs, working papers, symposia,
discussions, talks and lectures. The RGICS research work is focused on international economic
relations, law reforms, IT and economic reforms in India. |
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CONTENTS IN DETAIL : |
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| Preface |
| List of Acronyms |
| 1. |
Introduction |
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LAVEESH BHANDARI & PEEYUSH BAJPAI |
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Background |
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Business Failure and Bankruptcy |
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| 2. |
Small-Scale Industries – An Overview |
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DEBASHIS CHAKRABORTY |
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Introduction |
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Ownership Structure |
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Trends in Major Characteristics |
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Efficiency and Investment |
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A Cross-State Perspective |
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Industrial Sickness |
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The Question of Reviving SSIs |
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| 3. |
Case Studies and Inferences |
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PEEYUSH BAJPAI |
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Brief Description of Case Studies |
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Inferences from the Case Studies |
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The Specific Culprit(s) / Issues |
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Conclusion |
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| 4. |
Incipient Sickness : A Closer Look |
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B. YERRAM RAJU |
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'Beginning with Sickness' |
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'Beginning of Sickness' |
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Incipient Sickness :Contributing Factors and Remedies |
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Further Recommendations |
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| 5. |
Credit Availability to Small-Scale Sector |
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DEBASHIS CHAKRABORTY |
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The Credit Provisions |
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A Literature Survey of Various Committee Reports |
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Reports to Improve the Market Scenario |
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| 6. |
An Economic-Legal Perspective |
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BIBEK DEBROY |
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Introduction |
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A Legal Review |
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The Insolvency Laws and their Failure |
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| 7. |
Insolvency Procedures |
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PEEYUSH BAJPAI |
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Insolvency Procedures in Other Countries |
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Issues in Design of Insolvency Law |
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| 8. |
Conclusion : The Way Forward |
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PEEYUSH BAJPAI |
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| Appendix 1 : A Partial List of Laws
Governing SSI Payments of Dues |
| Appendix 2 : RBI Guidelines & GBIFR |
| Appendix 3 : The Questionnaires |
| Appendix 4 : PERT Analysis |
Appendix 5 : Principles and Guidelines for
Effective Insolvency and Creditor
Rights Systems |
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