Decoding the Indian Insolvency and Bankruptcy Code – Practice, Regulatory and Adjudicatory Trends
As part of reforms introduced in India to ease doing business, the Parliament of India, last year, passed the Indian Insolvency and Bankruptcy Code (IBC) with a framework to consolidate all issues relating to insolvency and bankruptcy in India within one single juristic entity. The IBC consolidates and amends the laws relating to reorganisation and insolvency resolution of corporate persons, partnership firms and individuals in a time-bound manner for maximisation of value of assets, to promote entrepreneurship, availability of credit and balance the interests of all stakeholders.
Unlike previous laws on insolvency in India, the insolvency resolution process under the IBC is a creditor-driven process which empowers creditors to take control of how the insolvency process will be shaped, including aspects such as running the debtor company on a going concern basis and trying to save the debtor company from liquidation. The IBC provides market determined 180-day period (extendable by 90 days) road-maps for an orderly resolution of insolvency and ease of exit, wherever required, to the creditors.
In order to familiarise UK companies and entities, which are doing business in or with India, on the applicability of the IBC, the extensive benefits of IBC, the regulatory and adjudicatory trends so far in the implementation of the IBC, and comparison of the IBC with existing insolvency and bankruptcy regimes in other counties, Link Legal India Law Services (a full-service Indian law firm), in collaboration with the Association of Indian Banks in the UK, is conducting a Knowledge Sharing Session on “Decoding the Indian Insolvency & Bankruptcy Code – Practice, Regulatory and Adjudicatory Trends”.
The knowledge sharing session is relevant to banks (Indian and foreign) that advance loans to Indian entities, UK companies/entities that are doing business in India by way of setting up a branch office, a subsidiary company or joint venture arrangements, and UK Companies/entities that do business with Indian entities including as suppliers of goods and/or service providers.
16:00 – 16:15: Registrations
16:15 – 16:30: Opening Address by the Banking Association of India, UK
16:30 – 16:45: Remarks by Mr Atul Sharma, Managing Partner, Link Legal
16:45 – 18:15: Technical session by Mr Siddharth Srivastava, Partner – Restructuring & Insolvency, Link Legal
18:15 – 18:30: Vote of Thanks by Mr Martin Harman, CBE, Chair – International Business, Link Legal
18:30 onwards: Networking and Cocktails
If you would like to attend the event, please email email@example.com