NEW DELHI: Providing the first possible avenue to resolve insolvency in a market-determined and time-bound manner, the Insolvency and Bankruptcy Code will help improve ease of doing business as well as develop the debt market, says IBBI Chairperson M S Sahoo.
Less than four months old, the Insolvency and Bankruptcy Board of India (IBBI) has started its work in a mission mode and well over 900 insolvency professionals have already registered with it.
IBBI has been set up under the Insolvency and Bankruptcy Code, which was cleared by Parliament last year. The Code seeks to consolidate and amend laws relating to reorganisation and insolvency resolution of corporate persons, partnership firms and individuals in a time-bound manner.
“We…
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