Insolvency and Bankruptcy Code: A legislation to promote investments, develop … – The Indian Express

iquidation of companies is handled by the high courts, individual cases are dealt with under the Presidency Towns Insolvency Act, 1909 and Provincial Insolvency Act, 1920.

The government on Monday introduced in Parliament the Insolvency and Bankruptcy Code, 2015 that provides for resolution of insolvency in a speedier and time-bound manner.

The bill aims at promoting investments, freeing up banks resources for other productive uses, boosting credit markets and improving ease of doing business in India.

An effective legal framework for timely resolution of insolvency and bankruptcy would support development of credit marke…

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