Release of publication ‘Understanding the Insolvency and Bankruptcy Code, 2016: Analysing developments in jurisprudence’.
By INSOL India Editorial Team Posted On : July 15, 2019
Hon’ble Mr. Justice M. M. Kumar, President, National Company Law Tribunal (“NCLT”) released a publication titled ‘Understanding the Insolvency and Bankruptcy Code, 2016: Analysing developments in jurisprudence’, jointly prepared by the Insolvency and Bankruptcy Board of India (“IBBI”) and Vidhi Centre for Legal Policy analysing the legislative and judicial developments on fifteen legally debated issues. A discussion was also held post the release, on ‘Legal developments and challenges under the Insolvency and Bankruptcy Code, 2016’. In his address on the occasion, Mr. Justice Kumar emphasised the need for creating awareness among the stakeholders on the legal issues emanating from the Code while also appreciating how several such issues have been resolved in the last two years. Dr. M. S. Sahoo, Chairperson, IBBI explained that the Code aims at improving availability of credit and that the corporate finance market is dominated by secured loans from banks today, because of the protection available under the law for such credit and thus, if the Code grants excessive protection to one kind of credit, the market of that category of credit may expand while market for all other categories may disappear.