Corporate Insolvency Resolution Process Under Insolvency & Bankruptcy Code (IBC): A Legal Analysis
- IJLLR Journal
- 3 days ago
- 1 min read
Dr. Irshad Khan, Greater Noida Academy of Legal Studies & Research (GNIOT Group of Institutions), Greater Noida (U.P)
ABSTRACT
Unlike many Western economies that have Triggered eight successive bank failures and Bailouts, India banks remain stable, low inflation, and healthy economic growth. But India also needs more Insolvency and Bankruptcy Code (IBC) does also needs to strengthen the IBC and build more confidence in the Code as the country undergoes economic stability. The IBC also needs to be more time bound and having unified mechanisms that is also time bound to be more efficient to enhance responsiveness challenges and the lack of regulatory discretion within the field of the IBC. IBC also needs more ease of access and removes the bureaucratic obstacles and registration Those marker challenges in the CIRP affecting the Liquidation of CIRP also in any regulatory framework and law. The challenges of having stakeholder engagements remain. The challenges of high Liquidation of CIRP also should be prioritized. These challenges needs to be taken into following legal frameworks and the interdependence within the Industry and the regulators.
Keywords: Insolvency; Bankruptcy; IBC 2016; CIRP; NCLT; Recovery; Restructuring.
