What is refreshing about the new policy framework to resolve insolvency and bankruptcy in corporations is that it doesnt seek to rescue a business at any cost as existing regulations, such as a SICA, attempt to do. (Reuters)
The efficacy of any mechanism can be gauged only after it has been put in place and tested for some length of time. Nevertheless, the Insolvency and Bankruptcy Code, promises to throw up an efficient process that facilitates bankers efforts to recover their dues. What is refreshing about the new policy framework to resolve insolvency and bankruptcy in corporations is that it doesnt seek to rescue a business at any cost as existing regulations, such as a SICA, attempt to do. It instead creates a mechan…
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