Regular IBC tweaks needed to address bankruptcy challenges, says Corporate Affairs Ministry
Insolvency and Bankruptcy Code (IBC) to address future challenges in corporate recast effectively.
In an internal communication dated October 30, the ministry said: «The Code's adaptability to evolving business landscapes ensures that it remains dynamic and responsive, while its continuous refinement will be essential for effectively addressing future challenges in insolvency management and corporate restructuring».
The communication to stakeholders comes ahead of the government's plan to introduce a raft of amendments to the IBC in the winter session of Parliament, likely in December.
The government could introduce a creditor-led resolution framework and a group insolvency mechanism under the IBC, as part of the changes, ET has reported.
Since its rollout in 2016, the insolvency law has been tweaked half-a-dozen times, incorporating necessary changes to respond to emerging issues around the corporate bankruptcy resolution and to improve upon the initial architecture.
Artificial Intelligence(AI)
Master in Python Language Quickly Using the ChatGPT Open AI
By — Metla Sudha Sekhar, IT Specialist and Developer
Artificial Intelligence(AI)
Mastering C++ Fundamentals with Generative AI: A Hands-On
By — Metla Sudha Sekhar, IT Specialist and Developer
Office Productivity
Mastering Microsoft Office: Word, Excel, PowerPoint, and 365
By — Metla Sudha Sekhar, IT Specialist and Developer
Office Productivity
Advanced Excel Course — Financial Calculations & Excel Made Easy
By — Anirudh Saraf, Founder- Saraf A & Associates, Chartered
