The case for a sectoral approach to insolvency resolution in India4 min read . Updated: 03 Feb 2023, 12:53 AM IST
The IBC may have to abandon its one-size-fits-all assumptions to prove effective in a swathe of industries with peculiarities
India’s Insolvency and Bankruptcy Code (IBC) was designed as a sector-agnostic law, and it was enacted with the aim that it will help companies resolve their stress in a timely manner. Since the Code provides for both substantive as well as procedural aspects of insolvency, it is worth considering if the insolvency resolution framework needs to be uniform for all sectors.
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