Drifts in Banking Business and Deepening Losses Amidst the Insolvency and Bankruptcy Code, 2016

Deepak Tandon () and Neelam Tandon ()
Additional contact information
Deepak Tandon: International Management Institute (IMI)
Neelam Tandon: Jagannath International Management School (JIMS)

Chapter Chapter 9 in Business Governance and Society, 2019, pp 143-160 from Springer

Abstract: Abstract The Insolvency and Bankruptcy Code, 2016 (IBC) has been one of the most ground-breaking laws enacted in the country in recent times. It has already subsumed the existing Sick Industrial Companies Act (SICA), revamped the Debt Recovery Tribunals (DRT) and has emerged as a major legislation. Consequent to the implementation of IBC, there has been a paradigm shift in the debt-recovery scenario in India. Encompassing all companies, partnership firms and individuals, the code offers uniform, comprehensive insolvency legislation along with coherent and consistent provisions for the stakeholders affected by inability to pay debt or business failure. Unlike the time-consuming and never-ending process that used to be prevalent earlier, the code aims to attain time-bound and effective bankruptcy resolution. Now, the Insolvency and Bankruptcy Board of India (IBBI) has taken a pivotal role. This chapter analyses the IBC’s effectiveness in handling the situation that it was created for.

Keywords: Bankruptcy Code; Stressed Assets; Insolvency Proceedings; Operational Creditors; Non-performing Assets (NPA) (search for similar items in EconPapers)
Date: 2019
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-319-94613-9_9

Ordering information: This item can be ordered from
http://www.springer.com/9783319946139

DOI: 10.1007/978-3-319-94613-9_9

Access Statistics for this chapter

More chapters in Springer Books from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().