INSOLVENCY AND BANKRUPTCY CODE, 2016: A PARADIGM SHIFT

Mukesh Kumar Suman

ISBN 13: 9798889591153

Published by Notion Press, 2023

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Bibliographic Details

• Title: INSOLVENCY AND BANKRUPTCY CODE, 2016: A PARADIGM SHIFT
• Publisher: Notion Press
• Publication Date: 2023
• Language: English
• ISBN 13: 9798889591153
• Binding: Soft cover
• Condition: New

About this title

Synopsis

Insolvency and Bankruptcy Code, 2016 is not incremental reform but a paradigm shift towards resolution of financially stressed Corporate Persons, Partnership Firms, and Individuals. The Paradigm shift is reflected in unification of laws of insolvency, adoption of predominantly creditor-in-possession model and time bound resolution process. The Code provides for mechanism for prompt resolution of stressed entites failing which such entites have to go through liquidation or bankruptcy, as the case may be. 

Although the Code has been a seminal intervention in insolvency regime, there seems to be elements of inherent inequity in the scheme of the Code as Financial Creditors have been given superior rights and privileges in comparison to Operational and Other Creditors. 

This book critically analyses various aspects of the Code and is a must resource for lawyers, company secretaries, chartered accountants, insolvency professional, students and others who have interest in this emerging area.