INSOLVENCY AND BANKRUPTCY CODE 2016: A PARADIGM SHIFT

<p>The Insolvency and Bankruptcy Code 2016 is not merely an incremental reform but a paradigm shift in the resolution of financially stressed corporate persons partnership firms and individuals. This shift is reflected in the unification of insolvency laws the adoption of a predominantly creditor-in-control model and a time-bound resolution process. The Code provides a mechanism for the prompt resolution of stressed entities failing which they proceed to liquidation or bankruptcy as the case may be.While the Code marks a seminal intervention in India's insolvency regime certain elements of inherent inequity remain particularly in the preferential treatment accorded to financial creditors over operational and other creditors.This book offers a critical analysis of the various aspects of the Code and serves as an essential resource for lawyers company secretaries chartered accountants insolvency professionals students and all those interested in this evolving area of law.</p>