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ARTICLE · 18 MAY 2020

Insolvency And Restructuring - Monthly Update April 2020

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Success of the Insolvency & Bankruptcy Code hinges on timely resolution of stressed assets and a conducive ecosystem.

IndiaInsolvency/Bankruptcy/Re-Structuring
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STATUTORY UPDATES

Success of the Insolvency & Bankruptcy Code hinges on timely resolution of stressed assets and a conducive ecosystem. Amendments to the IBC are an earnest attempt to address issues coming up during ongoing stressed assets cases, and are aimed at reducing timelines, enhancing transparency and improving realization from the resolution process.

Insolvency and Bankruptcy (Amendment) Act, 2020

  • On March 13, 2020, the Insolvency and Bankruptcy Code (Amendment) Bill, 2020, which was passed by both the houses of the Parliament, received the President's assent to become a law in the form of the Insolvency and Bankruptcy Code (Amendment) Act, 2020 (Amendment Act).
  • Some of the salient features of the Amendment Act are as under:

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