In the 100 days’ agenda of Modi 3.0 regime, included also was an amendment in the IBC Code of 2016 to incorporate mechanisms for cross-border and group insolvencies. While discussing amendments, it would be the appropriate to undertake a mid-term review of implementation and introduce fixes for efficiency in implementation and reduce delays
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The Code, over a brief span of 7 years, has come as a respite to the withering economy as it has provided a more efficient and effective system for resolving distressed entities. Though the Code has witnessed noteworthy changes, the same has come with its share of challenges and opportunities writes Anoop Rawat, Partner, Shardul Amarchand Mangaldas
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Delays In insolvency resolution is detrimental not only to the corporate in distress but to all of its stakeholders as well as potential bidders and their financiers writes Misha, Partner, Shardul Amarchand Mangaldas
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