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VOL. 8, ISSUE 1 (2026)
Comparative analysis of the conceptual and institutional frameworks governing company winding up procedures in Nigeria and India
Authors
Abdullahi Yusuf Abdullahi, V S Eze
Abstract
The purpose of the
research paper is to examine the institutional and conceptual frameworks for
firm winding up in India and Nigeria. Both nations have passed legislations
governing winding up. India has the Companies Act 2013 and the Insolvency and
Bankruptcy Code of 2016, while Nigeria recently passed the Companies and Allied
Matters Act 2020. Determining if Nigeria and India differ or are similar in
their conceptual applications and the institutions involved in winding up
businesses in both countries is the main goal of the paper. The paper adopts a
doctrinal based research method, by examining several statutes, articles and
academic contributions on company winding up both in Nigeria and in India. It
was found that both countries having deep root in the English common law
traditions and thus have similarities in concepts relating to insolvency.
However, in terms of institutions relating to winding up, there exist some
level of divergence between Nigeria and India. In contrast to Nigeria, which uses
the traditional court system to settle winding up cases, India has expedited
its winding up procedures by establishing the National Company Law Tribunal.
Traditional courts have been found to slow down the process of winding up
companies, which is unsettling for creditors and bad for the economy. The paper
makes the argument that, in order to ensure that the objectives of the company
law reform are not lost, Nigeria must make an equal effort to reform the
institutions that are pertinent to the implementation of the company law
reforms, given the progress it has made in reforming its legal framework
regarding company winding up.
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Pages:215-222
How to cite this article:
Abdullahi Yusuf Abdullahi, V S Eze "Comparative analysis of the conceptual and institutional frameworks governing company winding up procedures in Nigeria and India". International Journal of Law, Policy and Social Review, Vol 8, Issue 1, 2026, Pages 215-222
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