Insolvency Bankcruptcy Code, 2016
Speedy Resolution
To speed up resolution of stressed assets in the country
Wide Applicability
Applicable: Individuals, Partnerships, LLPs and Corporates
Time-Bound Process
Authority to decide insolvency application within 180 days (90 Days extension allowed)
Fast-Track Resolution
Fast track process of 90 days available for specifiled entities
Dedicated Adjudicating Authority
Adjudicating authority NCLT for corporates, DRT for individuals & partnership firms
Difficulties in IBC
Complex Legal Environment posing difficulties for Resolution Professional and COC
RP’s subjected to strict scrutiny
Threats posed by the promoters
Insolvency Resolution in India is at a very nascent stage and will take time to mature, people are afraid to invest in stressed assets due to complex legal environment
Inadequate experience of the Professionals in a relatively new field of IBC
Innovative strategies backed
data-driven insights
Cases
Successfully Completed
