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Bankruptcy Tag

The Evolution of Insolvency & Bankruptcy Code

We are ecstatic to release the full video from our panel discussion-“Evolution of IBC.” Watch eminent experts, Mr. Gourab Banerji, Senior Advocate at Supreme Court of India, Mr. Karthik Somasundaram, Partner at Bharucha and Partners, Mr. Anil PM, Head of Legal Compliance at Bajaj Alliance sharing their insights on the subject.

The insolvency process is a legal procedure where the court declares a person as bankrupt, and he no longer pays off his debts. This process must be done legally, and it is followed very strictly in the country.

Today in India, as in the case history, the bankruptcy code has been evolved according to financial conditions and needs. The evolution of the bankruptcy code is an important step taken by the government for financial stability.

It has been five years since this code was introduced, and it has seen some significant changes. Few of them have been due to the impact of a pandemic on various sectors and industries. Bankruptcy cases have existed for many years, but today with the evolution of insolvency and bankruptcy code, the number of insolvencies is rising.

Insolvency is today a much-feared word, but the scenario has changed with the introduction of insolvency and bankruptcy code in India.

However, some issues still need to be addressed to expedite the resolution process exceeding the prescribed statutory timelines effectively. At times, the facilitative process for resolution is not as productive as it should be. One such issue is the impact on the IBC of the Supreme Court that held the Insolvency Resolution Plan once approved by the Committee of Creditors (CoC), which can never be withdrawn or modified. Watch the panel discussion, where you will see more such questions and their answers from the experts.


The Emergence of Commercial Justice Through IBC

Watch our new video on the recently launched Book titled “The Emergence of Commercial Justice: Insolvency And Arbitration” by Vivek Sood, Senior Advocate. The book explores and analyses game-changing judgments delivered by the Supreme Court in establishing the concept of Commercial Justice.

Our Guest speakers include the author of the Book Vivek Sood, Senior Advocate, along with Misha, Partner, Shardul Amarchand Mangaldas, and Aastha, Partner, Argus Partners.

Watch them explaining –

  1. The situation that existed before IBC came into force;
  2. The balance established by the Supreme Court between Creditors and the commercial wisdom of the Committee of Creditors (CoC);
  3. With parallel remedies available, is IBC the most viable option to seek justice and;
  4. How has IBC helped in re-shaping the economy?

To get featured in more such conversations, write us on editorial@lawwiser.com

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