Advent of Insolvency and Bankruptcy Code, 2016 (“IBC”) in India resulted into a complete overhaul of the insolvency framework in India. It aimed to consolidate and amend the law relating to recoganisation and insolvency resolution of corporate entity in a time bound manner resulting into maximization of value of assets of such entity for the payment of default made by such entity and to establish an Insolvency and Bankruptcy Board of India (“IBBI”). The code at its nascent stage having lacuna atAdvent of Insolvency and Bankruptcy Code, 2016 (“IBC”) in India resulted into a complete overhaul of the insolvency framework in India. It aimed to consolidate and amend the law relating to recoganisation and insolvency resolution of corporate entity in a time bound manner resulting into maximization of value of assets of such entity for the payment of default made by such entity and to establish an Insolvency and Bankruptcy Board of India (“IBBI”). The code at its nascent stage having lacuna attaxmann.com Latest ArticlesRead More
