Ramit Chitkara
Its been more than a year since the all-new corporate insolvency framework of the country (hereinafter referred to as the IBC) got notified followed by regulations over tranches. IBC is one of the biggest reforms by the government just after the GST, wherein it offers early identification of corporate distress with time-bound resolution being the essence of the Code.
Undoubtedly, it is a well-woven law striving for international standards but IBC is still in its infancy. It is evolving as various bare provisions are being integrated with technicalities and practicalities taken from the perspectives of different stakeholders.
Where does the dispute arise?
As per the provisions under IBC, on occurrence of defaul…
Read the full article at: http://www.moneycontrol.com/news/trends/expert-columns-2/getting-a-fix-on-the-term-dispute-under-the-insolvency-and-bankruptcy-code-2431387.html