Insolvency and Bankruptcy Code | Read Livelaw To Get all Latest Legal News And Updates on insolvency

Ajithmathew06 May, 2024Legal

Insolvency and Bankruptcy Code (IBC) is the path-breaking legislation in India for handling the problems of corporate insolvency and bankruptcy resolution.The IBC provides a unified legal framework for the timely resolution of insolvency cases, ensuring a fair and transparent process for creditors, debtors, and other stakeholders.Key objectives of the IBC include promoting entrepreneurship, facilitating the efficient allocation of resources, and maximizing the value of distressed assets through a time-bound and creditor-driven insolvency resolution process.Overall, the IBC in India represents a paradigm shift in the approach to insolvency resolution, providing a robust and comprehensive framework for addressing financial distress and promoting economic growth and stability in the country.Get all updated legal news on IBC from Livelaw