Fast-Track Insolvency Resolution Process Explained

Ancoraa Resolution21 Sep, 2023Finance

The IBC (Insolvency and Bankruptcy Code, 2016), also known popularly as the Code, is a set of rules laid in India to handle debts. The Code helps creditors get their money back when people or companies can?t pay. The Code makes sure they try to fix it quickly, within 180 days, extendable to 270 days. There?s also a new method, called the Fast-Track Corporate Insolvency Resolution Process. The fast-track process is usually applicable for simpler cases. The fast process takes considerably less time than the regular process.