The Insolvency and Bankruptcy bill received the presidential assent on 28th May, 2016 and brought a series of new concepts in the bankruptcy and insolvency law practice. The new Insolvency and Bankruptcy Code, 2016 has repealed a number of outdated acts like the Provincial Insolvency Act, 1920 and the Presidency Towns Insolvency Act, 1909.
The introduction of IPs (Insolvency Professionals), IPAs (Insolvency Professional Agencies) and IUs (Information Utilities) have brought in unprecedented change in the landscape of insolvency laws in India. Experts are of the opinion that the Code needs to address a few issues that are not addressed in the present legislation.
The statute has undoubtedly secured much needed hope for the financial and operational creditors. And the code definitely has the potential to ensure the recovery of stressed loans and be utilised as an instrument to propel the country towards attracting more investments and reducing the burden of non-performing assets for debt ridden financial institutions. The uniqueness, novelty and ambiguities in the act which is still undergoing a series of amendments very frequently, calls for a detailed discussion and brainstorming in the area.
OakBridge is pleased to bring to you a platform for an in-depth discussion on law, procedure and practice around the Code and interpretation of the amendments by the best minds in this domain. Our endeavour is to achieve a fine blend of scholarly lectures and exhaustive panel discussions to debate the law, gaps and the way forward.
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