TABLE OF CONTENTS CHAPTER 1 ; INTRODUCTION; STATEMENT OF THE PROBLEM ; AIM OF THE STUDY ; OBJECTIVES OF THE STUDY ; RESEARCH QUESTIONS ; HYPOTHESIS ; SCOPE OF THE STUDY ; LIMITAION OF THE STUDY ; RESEARCH METHODOLOGY ; METHOD OF CITATION ; LITERATURE REVIEW ; CHAPTER 2 ; BASIC PRINCIPLES OF CORPORATE INSOLVENCY & CORPORATE LAW ; INSOLVENCY PRINCIPLES ; CORPORATE LAW THEORIES ; OBJECTIVES OF CORPORATE INSOLVENCY ; TRAGEDY OF COMMONS AND ANTI-COMMONS ; HISTORY OF INSOLVENCY LAW IN INDIA ; INSOLVENCY LAW UNDER THREE HEADS ; CHAPTER 3 ; POSITION OF CREDITORS ; POSITION UNDER COMPANIES ACT, 1956 ; POSITION UNDER SICA, 1985 ; POSITION UNDER RDDBFI, 1993; POSITION UNDER SARFESI, 2002 ; CONFLICT BETWEEN SICA & SARFESI; POSITION OF CREDITOR UNDER IBC ; CREDITORS BARGAIN THEORY ; CHAPTER 4 ; INSTITUTIONAL FRAME WORK AND CHALLENGES FACED BY THEM ; BOARD FOR INDUSTRIAL AND FINANCIAL RECONSTRUCTION ; CHALLENGES FACED BY THE BFIR ; DEBT RECOVERY TRIBUNAL ; CHALLENGES FACED BY THE DRT/DRAT ; NATIONAL COMPANY LAW TRIBUNAL ; CHALLENGES FACED BY THE NCLT ; CHAPTER 5 ; SHAREHOLDERS VERSUS STAKEHOLDERS ; TERMINOLOGIES ; CORPORATE GOVERNANCE PERSPECTIVE ; MODELS FOR EFFICIENT CORPORATE GOVERNANCE ; ANALYSIS ; CHAPTER 6 ; CREDITORS DIRECTOR TO BOARD MEETING ; BOARD OF DIRECTORS& BOARD MEETINGS ; ROLE OF DIRECTORS ; BOARD MEETINGS ; ANALYSIS ; APPOINTMENT OF CREDITORS DIRECTORS FROM ECONOMIC PERSPECTIVE; ECONOMICS versus EFFICIENCY ; CHAPTER 7 ; DIRECTORS DUTY TOWARDS CREDITORS ; DIRECTOR’s FIDUCIARY DUTY ; DUTY DURING INSOLVENCY PROCESS ; ANALYSIS ; LIABILITY OF DIRECTORS ; IMPOSING OF DIRECTORS DUTY TOWARDS CREDITORS FROM ECONOMICS PERSPECTIVE; CHAPTER 8 ; CONCLUSION AND SUGGESTIONS ; EXECUTIVE SUMMARY ; SUGGESTIVE MODEL ; BIBLIOGRAPHY .