The 2016 Insolvency and Bankruptcy Law (IBC) will change the rules of the game, and strive to handle bankruptcy and liquidation procedures in a time-limited and effective manner to maximize asset value and enhance investment.
An Act to consolidate and amend the laws relating to re-organization and insolvency resolution of corporate persons, partnership firms and individuals in a time bound manner for maximization of value of assets of such persons, to promote entrepreneurship, availability of credit and balance the interests of all the stakeholders including alteration in the order of priority of payment of Government dues. The intention of the code is to revive a company though a resolution process and if not succeeded then liquidation process.
Our firm has engaged with experienced professionals who are registered as Insolvency professionals with IBBI. Our partners also have rich experience in handling corporate debt restructuring (CDR), organizational financial restructuring, and restructuring companies under pressure.