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IBC – A Dynamic Economic Legislation Balancing the interest of Stakeholders: A Diagnostic Approach
Dr. S. Pardhasaradhi,  Mrs.P.Harshanya
IBC is a dynamic economic legislation emerged after elaborate churning process on economic theories, comprehensive approaches to corporate sickness, Insolvency and Bankruptcy codes of several countries in global scenario Entry and exist freedom are ensured under IBC. IBC became a reform by the stakeholders, of the stakeholders and for the stakeholders (Sahoo M.A, 2019). IBC emerged, after lessons drawn from the failure of Corporate Sickness under Sick Industrial Companies (Special Companies) Act, 2985 (SICA) and emerged. It is creditor driven approach provides one stop solution balancing the interest of stakeholders. It is focused on ease of doing business, creating new credit culture based on market economy and entrepreneurship development. It is based on behavioral and socioeconomic perspective of insolvency and bankruptcy and corporate reorganization.
Keywords- ibc, sica, corporate sickness, turnaround strategies
Unique Identification Number - IJEDR2202005Page Number(s) - 31-36Pubished in - Volume 10 | Issue 2 | May 2022DOI (Digital Object Identifier) -    Publisher - IJEDR (ISSN - 2321-9939)
Cite this Article
Dr. S. Pardhasaradhi,  Mrs.P.Harshanya,   "IBC – A Dynamic Economic Legislation Balancing the interest of Stakeholders: A Diagnostic Approach"
, International Journal of Engineering Development and Research (IJEDR), ISSN:2321-9939, Volume.10, Issue 2, pp.31-36, May 2022, Available at :http://www.ijedr.org/papers/IJEDR2202005.pdf