Historically, insolvency resolution in India has been an arduous, complex and long drawn process. India is currently ranked 103rd globally in insolvency resolution with a typical insolvency case taking up to four years. While several schemes / mechanisms have been in existence to assist recovery and / or restructuring of distressed assets, for a variety of reasons, they have met with limited success. Overhauling the insolvency regime had, therefore, become the need of the hour.
Click to read more – Key Developments under the Indian Insolvency Regime – Insolvency and Bankruptcy Code