How Has IBC Positioned The Different Class Of Creditors?

This article deals with the differences that have been brought along with the changes in positions of creditors under the Insolvency and Bankruptcy Code. It gives an in-depth analysis of the process and the discussions that surround this issue while looking into judgements and the after-effects brought in by this change.

Corporate Insolvency and Resolution Process

From an economic perspective, the Insolvency and Bankruptcy Code institution, 2016, had been a significant amelioration in our country’s economic system. It has enhanced the global economic image of India. India is a foremost part of the global economy, so India needed to compete with other emerging nations and large economies. We had distinctive overlapping laws concerning Insolvency, which was not adequate to settle down corporate and individual debt. Another imperative purpose of establishing this code was to attract foreign nations to invest in India. India aimed to be at par with these foreign nations who play a vital role in the global economy.

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