IBC India Guide
IBC India Guide India’s jump from Rank 130 to Rank 100 in ease of doing business can be largely attributed to various legal reforms in the country, including the Insolvency and Bankruptcy Code, 2016 (IBC), which has been notified with a vision to resolve the rampant insolvency situation. IBC preliminarily provides for the revival of insolvent corporate entities through a corporate insolvency resolution process (CIRP) in a time-bound manner, failing which such entities undergo liquidation. As per the news sources, private equity players have raised stressed assets funds totalling over USD 4 billion in the past 3 years, sensing an opportunity in the increasing number of bad assets in the banking system. Over the past two years, IBC has proved instrumental in addressing the corporate insolvency situation in the country, however, several crucial issues have emerged under IBC framework, including challenges to Tandoor Manufacturer its constitutionality, questions on time-bound pr...
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