In an era of globalization and rapidly expanding cross-border trade, this study aims to explore the major concerns surrounding the bankruptcy of a corporation with worldwide asset connections. Because the Ministry of Corporate Affairs recently requested views on the draught chapter on cross-border insolvency that was intended to be incorporated to the Code, addressing these questions has become crucial to the development of insolvency laws in India. Given that India has not yet ratified the UNCITRAL Model Law on Cross-Border Insolvency, the country's legal system falls well short of international standards. By discussing the fundamental ideas of cross-border bankruptcy and outlining what could occur when an insolvent firm has significant assets abroad, this paper aims to close the gap in clarity.

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