Essay Examples on Weill Cornell Graduate School of Medical Sciences

Insolvency and Bankruptcy Code

Insolvency and Bankruptcy Code 2016 The Insolvency and Bankruptcy Code is a law associated with bankruptcy of firms which was passed by the parliament on 5th May 2016 The major problems it tries to address are the insolvency and bankruptcy problems with the entities registered in the country At the time this bill was introduced there were overlapping laws addressing to this issue and there weren't any specific law which followed up to see that the interests of the lenders were protected The changes which are brought about in this framework also focus on an insolvency resolution driven by the creditors It covers every entity except for financial institutions This bill was introduced keeping in my mind the need to improve the standing of the credit markets as well as improve the environment in general in which businesses operate It tries to combine all the previous insolvency laws introduced in the country under one umbrella

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