The Parliament's Insolvency and Bankruptcy Code is a welcome reform of the existing framework on business, entity, partnership and other insolvency. This paves the way for much-needed reforms when concentrating on creditor-driven insolvency resolution.
Read MoreWith the help of the law, insolvency service providers have been able to recover losses from defaulters or delinquent borrowers. The law has been able to instil fear among defaulters who now risk losing their company in case they are not able to repay outstanding debt within the stipulated timeframe.
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