“Insolvency and Bankruptcy Code (IBC) 2016 was implemented through an act of Parliament. It got Presidential assent in May 2016. Centre introduced the IBC in 2016 to resolve claims involving insolvent companies. The bankruptcy code is a one stop solution for resolving insolvencies, which previously was a long process that did not offer an economically viable arrangement. The code aims to protect the interests of small investors and make the process of doing business less cumbersome. In this episode of the Business tit-bits our Business Editor Mr. Akhilesh Bhargava shares his take on the matter.
#IBC #JetAirways #Videocon #FinanceMinistry
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