Amid global economic volatility, regulatory certainty and resilience are essential to attract investment and build successful enterprises. The Insolvency and Bankruptcy Code, 2016 (IBC) has made India a desirable investment destination. True to its objectives, the IBC is now a vital legislation, balancing creditor rights with debtor revival. The IBC empowers financial creditors, domestic and international, and imposes credit discipline. In total, the IBC has resolved more than 1,194 cases, with creditors realising INR3.89 trillion (USD 44.4 billion).
The article was authored by Varghese Thomas and Soumitra Majumdar, Partners, and published in Law Asia.
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Soumitra specializes in Banking & Finance. He works closely with Indian and multinational banks, development financial institutions, commodity finance houses, non banking finance companies as well as corporates, for structuring, due diligence, documentation and negotiations.