Could IBC’s individual insolvency framework offer a lifeboat for borrowers drowning in personal debt?
The Insolvency and Bankruptcy Code, 2016 (IBC), heralded a new era for debt resolution in India. Envisioned as a comprehensive framework, it aimed to streamline and expedite the reorganisation and insolvency processes for corporate entities, partnership firms, and individuals alike, with the overarching goal of maximising asset value. While the corporate insolvency resolution process (CIRP) under the IBC has demonstrably […]
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