The manner in which the law is currently being implemented seems to focus more on expeditious operationalisation rather than effective implementation.
The Bombay Stock Exchange (BSE) building is illuminated during a special muhurat trading session for Diwali, the festival of lights, in Mumbai, India, November 11, 2015. Credit: Shailesh Andrade/Reuters/Files
The Insolvency and Bankruptcy Code, 2016 (IBC) replaces a fragmented legal framework and a broken institutional set-up that has been delivering poor outcomes for years for creditors and distressed businesses seeking an exit. Currently, corporate insolvency and debt recovery cases are being dealt with under various laws and forums. In a previous article, we had argued that…
Read the full article at: http://thewire.in/86871/insolvency-and-bankruptcy-code/