• Neetha Kurian

This paper will look into the current regulatory framework and the recent developments in the corporate sector and suggest reforms which can advance sustainable development and economic growth in India. The indicators identified by the world bank report of ease of doing business puts India in a better place in 2018 compared to the 130 rank it had in 2017. India has improved to the 100th position and the better ease of doing business rank is not possible without a conducive regulatory environment. Corporate frauds, unethical practices, outdated laws, poor implementation of existing laws, overlapping power of adjudicating bodies, unnecessary intervention from courts resulting in inordinate delays were all reasons for India’s poor show in the global market. Soon the government realised that availability of credit, assuring the lenders of realisation of their debts without losing the value of the assets, restructuring of viable businesses are all possible only when a country has strong bankruptcy laws. This was also one strong indicator that has upped India’s rank in the world bank’s ease of doing business. The central government’s enthusiasm in bringing availability of credit and a stable market is also clearly reflecting in the recent enactment of the Fugitive Economic Offenders Act 2018, amendments in Money laundering Act and the implementation of the Insolvency and Bankruptcy code 2016. While it is important to enact laws for facilitating trade and economic growth it’s equally important to adopt sustainable development practices. So the need of the hour in India is sustainable development coupled with friendly policies by the government that can bring a favourable climate for doing business in India. This study will highlight the lapses in the existing legal and business environment and will suggest amendments that can ensure better governance, protect sustainable development and accelerate economic growth. The methodology adopted is doctrinal and the study was conducted from materials collected through primary and secondary sources. Relevant legislation in other jurisdictions, articles published in different journals, books, and published government reports were referred.

Regulatory framework, sustainable development

"Realising the Goals of Sustainable Development-The Role of Commercial law", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.6, Issue 4, page no.87-94, April-2019, Available :http://www.jetir.org/papers/JETIR1904L10.pdf

"Realising the Goals of Sustainable Development-The Role of Commercial law", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.6, Issue 4, page no. pp87-94, April-2019, Available at : http://www.jetir.org/papers/JETIR1904L10.pdf