The objective of the new law is to promote entrepreneurship, availability of credit, and balance the interests of all stakeholders by consolidating and amending the laws relating to reorganization and insolvency resolution of corporate persons, partnership firms and individuals in a time bound manner and for maximization of value of assets of such persons and matters connected therewith.
Rajya Sabha has passed the major economic reform Bill moved by the Government i.e. 'Insolvency and Bankruptcy Code, 2016'. The Lok Sabha had earlier p ...
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