Demonetisation has gripped Indias collective mind; and its banks attention of late. Nevertheless, in the year past, much has transpired on the insolvency reform front, including a new Insolvency Code and asset reconstruction licences, and the Bankruptcy Boards arrival with a bang.
The orientation towards action is positive, and speaks of a refusal to permit the perfect to be the enemy of the good. Of course, the accompanying risk of initially missing something is greater, and requires a delicate balance, responsively addressing such lacunae without unduly increasing uncertainty.
A shrill ring: primacy of the new Insolvency Code and NCLT a must
The National Company Law Tribunal (NCLT)s recent interim orderin the very first ba…
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