The Insolvency and Bankruptcy of India and Vidhi Centre for Legal Policy organised a Conference on ‘Insolvency and Bankruptcy Code, 2016: A Roadmap for the Next Two Years’
By EDITORIAL TEAM INSOL INDIA Posted On : January 15, 2019
The Conference brought together the key stakeholders to distil learning from the implementation of the Insolvency and Bankruptcy Code, 2016 (“Code”) over the last two years, track the changes in the insolvency landscape in the country, address the challenges faced by stakeholders in the insolvency eco-system, identify opportunities to make the eco-system more robust and draw a roadmap for further development of the insolvency eco-system over the next two years.
Major highlights of the Conference were the manner in which the Code has restored the sanctity of the debtor-creditor relationship; the improvement in India’s ranking by about 30 notches in insolvency parameter on account of the implementation of the Code in the Ease of Doing Business Report of the World Bank; and review of Section 29A of the Code in the interest of maximization of value of the assets of the corporate debtor.
The Conference witnessed the launch of the book “Insolvency and Bankruptcy Code: The journey so far and the road ahead”, a joint publication of Vidhi and Ernst & Young. The Conference also featured panel discussions on four themes, namely, ‘Testing the creditor friendly promise of the Code’, ‘Promoting entrepreneurship through the Code’, ‘Easing resolution and creating a market for distressed assets’, and ‘Insolvency from the regulators’ and ‘policymakers’ lens’. Key stakeholders, including representatives from the government, regulators, financial institutions, investment funds, industry, asset reconstruction companies as well as insolvency professionals and legal practitioners participated in the Conference.