Litmus tests passed by IBC continues to create greater Strikes
Unable to close many insolvency cases successfully in 270 days has resulted in passing many Litmus tests by IBC. This has created a symbol of the dark storm and greater…
Introduced by the Government in 2015, the Insolvency and Bankruptcy Code came into effect in 2016 after both houses of parliament passed the said law. It is an effort to create a unified framework to resolve insolvency in India. The code seeks to bring semblance to an otherwise unstructured process and ensure that all re-organisation and insolvency resolutions of corporate persons, partnership firms and individuals is conducted in a time bound manner for maximisation of value of assets of such persons.
The Corporate Insolvency Process was set up with an aim to protect the interest of the creditors....
Fast track CIRP is applicable for companies with a less complicated structure.With a mandatory...
Liquidation comes into effect when the resolution professional, at any time during the corporate...
For small individuals, an application will be filed in the DRT for initiation of Fresh Start Process...
Under this process, the creditors and the debtor will engage in negotiations to ...
An Insolvency Professional helps you getting rid of all the stress regarding your insolvency.
"The insolvency and Bankruptcy Code 2016 would ensure optimum utilization of resources at any point of time, and thereby raise productivity and promote economic prosperity"
Dr. M.S. Sahoo"India is in the process of laying the foundations of a mature market economy. IBC is an endeavor to provide one critical building block of this process"
Mr. Sumant Batra