Published in:
The Hindu
Pubished on:
2 Mar 2016
The Insolvency and Bankruptcy Code (IBC) aims at improving the failing credit market situation in the country. A healthy credit market functions well where the debtor and the creditor have faith that their interests are recognised and protected under law.
Failure to pay debt is a common occurrence but surprisingly, the law dealing with such situations is under-developed, fragmented and unpredictable, to say the least.