Ease of doing biz: Enforcing contracts, IBC cases remain hurdles for India

Experts say recent amendments to the Specific Relief Act will help improve enforcement of contracts and reduce litigation

India improved its ranking on the World Bank's Ease of Doing Business index for the second straight year, jumping 23 places to the 77th spot, but the country continues to perform poorly when it comes to parameters like enforcing of contracts (Rank 163) and resolving insolvency (Rank 108). Reforms in the judicial administration system to improve its efficiency are key to fixing the laggards in India’s ease of doing business environment, say experts.
 

Makarand Lele, president, Institute of Company Secretaries of India, says court reforms to reduce the delay in dealing with cases in the form of simplified procedures for