The New Insolvency and Bankruptcy Code, 2016 stipulates the maximum time to be taken to liquidate a company to 180 days with an one time extension of 90 days, while earlier it used to take at least four years for the same. With the new law, arises the new opportunities for youth in the form of insolvency professionals. To cater to the huge insolvency and liquidation market and produce insolvency professionals, the Institute of Company Secretaries of India (ICSI) has set up a Insolvency Professionals Agency and also allotted about H14 crore to train graduates to become insolvency professionals.
What is the role of an insolvency professional?
He/She takes up matters relating to insolvency of individuals, partnerships and liquid…
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