Swiss Challenge Model: Is it Felicitous to Deal with Insolvency? - A Critical Analysis.

Public-private partnership is a prime factor for the exponential growth of an economy. Growth here assumes a holistic approach that comprises financial, technical, and environmental well-being. Of the various public procurement models - Bonus System, Swiss Challenge, Automatic Shortlisting, Direct Negotiation, and Full Competition - the Swiss Challenge Model (SCM) has come a long way with its application in various developing and developed countries even without proper regulations and robust framework. Regional laws exist but with meager detailing. Claiming an age-old history right from its inception through the Swiss government's mode of awarding contracts, the Swiss challenge had now extended its roots into its application in Insolvency proceedings under The Insolvency and Bankruptcy Code of India. Though used extensively for infrastructural development processes in many emerging global powers, SCM poses deficiencies and limitations. The article analyses the extent of the effectiveness of this concept based on the existing studies conducted so far around the globe, critically examines and compares the guidelines, rules, and practices followed, and then connects it with the logic of using the same in Insolvency proceedings in India for suggesting an ameliorated model of better public acceptance. [ABSTRACT FROM AUTHOR]