Insolvency and Bankruptcy Code, 2016 ( M.com)
The Insolvency and Bankruptcy Code, 2016 This article useful for M.com and Accounting students. ( Subject - Corporate Laws and Governance) The key objectives and main features of Insolvenc and Bankruptcy Code (IBC), 2016. Ans. Insolvency and Bankruptcy Code, 2016 had received assent President on 28.05.2016 and the Code was also notified in the Gazatte c India on 28.05.2016. Insolvency and Bankruptcy Code, 2016 is known popular as IBC, 2016. It extends to the whole of India but Part III of thi code shall not extend to the State of Jammu and Kashmir. Insolvency ane Bankruptcy Code (Amendment) Act, 2018 was passed by parliament in January 2018. The Insolvency and Bankruptcy Code, 2016 consolidates and amends the laws relating to reorganisation and insolvency resolution of Corporate persons (excluding financial service providers), partnership firms and individuals in a time bound manner for maximisation of value of assets of such persons, to promote entrepreneurship, availability of...