<h1>Insolvency Law Committee Recommends UNCITRAL Model Law Adoption to Enhance Cross-Border Insolvency Framework in India.</h1> The Insolvency Law Committee has submitted its second report to the Indian government, recommending the adoption of the UNCITRAL Model Law on Cross Border Insolvency, 1997, to address cross-border insolvency issues. This model law, already adopted by 44 countries, offers a comprehensive framework that prioritizes domestic proceedings and protects public interest while enhancing foreign investor confidence. It outlines principles for international cooperation and coordination in insolvency cases. The proposed framework aims to manage Indian companies with foreign assets and vice versa, though it does not yet cover enterprise groups. This inclusion will align Indian insolvency law with international standards.