Insolvency and Bankruptcy Code Subject – Economy Context – Extend IBC provisions to InvITs: experts. Concept – It is a reform enacted in 2016. It amalgamates various laws relating to the insolvency resolution of business firms. It lays down clear-cut and faster insolvency proceedings to help creditors, such as banks, recover dues and prevent bad loans, a key drag on the economy. […]
Subject : Economy Context : Suspension of the insolvency and bankruptcy code (IBC) is being extended till March 31, 2021, finance minister Nirmala Sitharaman said at the Bangalore Chamber of Industry and Commerce virtual conference. Concept : About : Insolvency and bankruptcy code 2016 was introduced to resolve the bankruptcy crisis in corporate sector. Under […]