The Insolvency and Bankruptcy Code, 2016 (“Code”), since its inception has gained prominence in India as it is a comprehensive code ensconcing in itself the entire insolvency law regime in India.
When this law was brought into force, the provincial and presidential insolvency regimes were repealed along with amendments to eleven extant legislations. The Code has been given a hearty welcome because of the much needed changes it has introduced to our insolvency regime.
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