This work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License
|
||||||||
|
Paper Details
Paper Title
IBC - A Pathbreaking Economic Legislation: A Diagnostic Study
Authors
Dr. S. Pardhasaradhi, Mrs. C. Latha, Mrs. P. Harshanya
Abstract
Insolvency and Bankruptcy Code, 2016 is a paradigm shift in the field of corporate sickness and corporate restructuring. The code brought out several path breaking reforms in regulations and governance. It recognized freedom to exit with ease while not compromising on the maximization of value of Assets. The Code explores all the possible ways with utmost importance to going concern concept, when that is not practicable go for liquidation. This was possible with CIRP mechanism with timeline and professional approach of four pillars namely Insolvency and Bankruptcy Board of India, Information Utilities, Insolvency Professionals and Adjudicating Authorities under IBC. The Code is ultimately focused on balancing the interest of stakeholders. It is creditors driven instead of debtors driven in earlier legal framework. It is a behavior law and it motivates for the settlement outside IBC mechanism.
Insolvency and Bankruptcy Code, 2016 is a paradigm shift in the field of corporate sickness and corporate restructuring. The code brought out several path breaking reforms in regulations and governance. It recognized freedom to exit with ease while not compromising on the maximization of value of Assets. The Code explores all the possible ways with utmost importance to going concern concept, when that is not practicable go for liquidation. This was possible with CIRP mechanism with timeline and professional approach of four pillars namely Insolvency and Bankruptcy Board of India, Information Utilities, Insolvency Professionals and Adjudicating Authorities under IBC. The Code is ultimately focused on balancing the interest of stakeholders. It is creditors driven instead of debtors driven in earlier legal framework. It is a behavior law and it motivates for the settlement outside IBC mechanism.
Keywords- Insolvency and Bankruptcy Code, CIRP, IBBI, Adjudicating Authorities, SICA
Publication Details
Unique Identification Number - IJEDR2003036Page Number(s) - 225-230Pubished in - Volume 8 | Issue 3 | August 2020DOI (Digital Object Identifier) - Publisher - IJEDR (ISSN - 2321-9939)
Cite this Article
Dr. S. Pardhasaradhi, Mrs. C. Latha, Mrs. P. Harshanya, "IBC - A Pathbreaking Economic Legislation: A Diagnostic Study", International Journal of Engineering Development and Research (IJEDR), ISSN:2321-9939, Volume.8, Issue 3, pp.225-230, August 2020, Available at :http://www.ijedr.org/papers/IJEDR2003036.pdf
Article Preview
|
|
||||||
|
|
||||||||
