Insolvency and Bankruptcy Code, 2016
- The Insolvency and Bankruptcy Code, 2016 (IBC) passed by the Parliament on 11 May 2016, received Presidential assent on 28 May 2016 and was notified in the official gazette on the same day.
Reasons for Introduction
It was introduced for two mains reasons:
- To consolidate and de-fragment the insolvency and bankruptcy laws of the country.
- To provide a fast way to resolve the issues of company insolvency.
Key Aspects of the Insolvency and Bankruptcy Code
- IBC proposes a paradigm shiftfrom the existing ‘Debtor in possession’ to a ‘Creditor in control’ regime.
- IBC aims at consolidating all existing insolvency related laws as well ....
Do You Want to Read More?
Subscribe Now
Take Annual Subscription and get the following Advantage
The annual members of the Civil Services Chronicle can read the monthly content of the magazine as well as the Chronicle magazine archives.
Readers can study all the material before the last six months of the Civil Services Chronicle monthly issue in the form of Chronicle magazine archives.
Related Content
- 1 Strengthening Food Security and Nutrition for an Inclusive India
- 2 Protecting Children in the Digital Age: The Need for Safer Social Media
- 3 India's Bioeconomy Blueprint: NITI Aayog's Roadmap to 2035
- 4 Vision Document on Drug Control
- 5 India's Rural Credit System: Expanding Financial Inclusion and Agricultural Growth
- 6 AI in India's Judicial System: Balancing Innovation with Constitutional Values
- 7 India’s Seaward Foreign Policy: Securing Maritime Interests in a Changing World
- 8 Fast Track Courts: Strengthening the Integrity of Public Examinations
- 9 Strategic Roadmap for Making Ayurveda Global
- 10 The Growing Threat of Antimicrobial Resistance in India
Current Affairs In Focus
- 1 China to Complete Artificial Sun Device This Year
- 2 PM-STIAC Identifies Nine Missions
- 3 Regional Comprehensive Economic Partnership (RCEP)
- 4 Importance of Maldives for India
- 5 India – Maldives Ministerial Meet
- 6 New Zealand Terror Attack
- 7 US-North Korea second summit meeting inconclusive
- 8 India’s Latest Move to Impose Sanctions on Masood Azhar Foiled
- 9 Mueller Report Released in the US
- 10 Generalized System of Preferences (GSP)
- 11 Contempt of Court
- 12 Official Secrets Act, 1923
- 13 Electoral Bonds
