The Insolvency and Bankruptcy Code (IBC), which came into force in 2016, provides for a market-linked and time-bound resolution of stressed assets. Once a stressed company is admitted for resolution under the IBC, the Committee of Creditors (CoC) will be in charge and the company#39;s affairs are managed by a resolution professional. If the resolution is not successful, then the company goes into liquidation.Feudalism of corporate debtors gone after IBC implementation, says CEA
The Insolvency and Bankruptcy Code (IBC), which came into force in 2016, provides for a market-linked and time-bound resolution of stressed assets. Once a stressed company is admitted for resolution under the IBC, the Committee of Creditors (CoC) will be in charge and the company#39;s affairs are managed by a resolution professional. If the resolution is not successful, then the company goes into liquidation.
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