PANAJI: Depositors, creditors, shareholders of companies that go bust have lot to look forward to from the newly notified Insolvency and Bankruptcy Code (IBC) 2016, according to the Institute of Company Secretaries of India (ICSI).
Institute members, who met up at a symposium in EDC House, Panaji on Thursday, said that recent changes in insolvency laws viz. through the constitution of IBC 2016 offers several benefits to lenders.
Outdated laws in the past often worked in favour of borrowers but the current legislative framework on insolvency offers speedy disposal of cases and is therefore beneficial to lenders, said ICSI. The IBC 2016 is important because of the mounting bad debts of commercial banks and because of s…
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