Date: August 17-18, 2018
Prior to the enacting of the Insolvency and Bankruptcy Code, there were multiple overlapping laws and adjudicating forums dealing with financial failure and insolvency of companies, partnerships and individuals in India. The Legal and Institutional frameworks that existed did not aid lenders in effective and timely recovery or restructuring of defaulted assets and caused undue strain on the Indian credit system.
Recognizing that reforms in the bankruptcy and insolvency regime are critical for improving the business environment and alleviating distressed credit markets, the Government introduced the Insolvency and Bankruptcy Code Bill in November 2015, drafted by a specially constituted ‘Bankruptcy Law Reforms Committee’ (BLRC) under the Ministry of Finance. After a public consultation process and recommendations from a joint committee of Parliament, both houses of Parliament passed the Insolvency and Bankruptcy Code, 2016 (Code) on 28th May 2016.
This two day programme will help participants learn how Financial Creditors / Operational Creditors commence the process of insolvency resolution of their claims. It will also help Corporate Debtors with the process of Insolvency resolution and voluntary liquidation of the company.