TFIPOST हिन्दी
TFIPOST Global
Tfipost.com
Tfipost.com
No Result
View All Result
  • Premium
  • Politics
    • All
    • Analysis
    • Opinions
    • Trending
    Demand for Legislation to Curb Forced Conversions

    Goa CM Pramod Sawant Proposes Anti-Conversion Law Amid Rising Concerns Over ‘Love Jihad’ Network

    A Response to Dr. Ruchika Sharma’s Reading of History

    On Truth and Taxes: A Response to Dr. Ruchika Sharma’s Reading of History

    Hinduphobic YouTuber Apologises After Hurting Hindu Sentiments

    Hinduphobic British YouTuber, Who Ate Chicken at ISKCON Restaurant, Apologises After Hurting Sentiments of Millions

    India Makes Big Jump In Henley Passport Index, Visa-Free Entry To 59 Countries Now

    Indian Passport Climbs Up to 77th in Global Ranks: Visa-Free Access to 59 Countries Now Possible

    • Analysis
    • Opinions
    • Trending
  • Economy
    • All
    • Business
    • Economy1
    • Finance
    Ahead of PM Modi's visit, Cabinet approves free trade agreement between India and UK

    PM Modi to Sign Landmark Free Trade Deal With UK as Cabinet Gives Green Light

    Bengal’s Business Exodus: 6,688 Companies Flee State Since Mamata Took Office

    Bengal’s Business Exodus: 6,688 Companies Flee State Since Mamata Took Office

    US Trade Officials to Visit India in August for Crucial Talks

    US Trade Officials to Visit India in August for Crucial Talks

    Importance And Value Of Brand Logos In A Competitive Market

    Importance And Value Of Brand Logos In A Competitive Market

    • Business
    • Finance
  • Defense
    • All
    • Defence
    • Strategy
    • Weaponry
    BITS Students Build Kamikaze Drones, Power Indian Army

    Kamikaze Drones from Campus Hostel : This is How Two BITS Students Deliver Combat-Ready Drones to Indian Army

    Apache: World’s Most Advanced Attack Helicopter Now in Indian Hands

    Apache Choppers Near Pakistan Border: A Strategic Game Changer for India

    MiG-21 Fighter Jets to Be Retired from Indian Air Force Service by September

    MiG-21 Fighter Jets to Be Retired from Indian Air Force Service by September

    UK F-35B Stealth Jet Finally Departs Kerala Airport After Month-Long Grounding

    UK F-35B Stealth Jet Finally Departs Kerala Airport After Month-Long Grounding

    • Defence
    • Strategy
    • Weaponry
  • Geopolitics
    • All
    • Africa
    • Americas
    • Asia Pacific
    • Europe
    • South Asia
    • West Asia
    Delhi Reopens Tourist Visas for Chinese Citizens After 5 Years

    India-China Ties Back on Track? Delhi Reopens Tourist Visas for Chinese Citizens After 5 Years

    Pakistan Offers Protection—Only After 20 Chinese Nationals Die

    Pakistan’s Terror Problem Hits China, After 20 Deaths Shehbaz Makes Empty Promise on ‘Protection’

    Indian Student Seriously Injured in Adelaide, Australia In Racially Motivated Attack: 'F**K off, Indian'

    Indian Student Seriously Injured in Adelaide, Australia In Racially Motivated Attack: ‘F**K off, Indian’

    Indian Assaulted in Dublin in Suspected Racist Attack

    Indian Origin Amazon Employee Assaulted in Dublin, Ireland in Racist Attack

    • Africa
    • Americas
    • Asia Pacific
    • Europe
    • South Asia
    • West Asia
  • Knowledge
    • All
    • Culture
    • Education
    • History
    • Indology
    NCERT Textbook Reveals Mughal Religious Intolerance

    Ruthless Babur, Violent Akbar, Destructive Aurangzeb: NCERT Textbook Reveals Mughal Religious Intolerance

    India Built Gardens Long Before Babur Dreamt of Charbagh

    Before the Mughals: India’s Civilisation Built Gardens Long Before Babur Dreamt of Charbaghs

    Revisiting the MANUSMRITI: Why India’s Youth Must Study This Ancient Epic

    Revisiting the MANUSMRITI: Why India’s Youth Must Study This Ancient Epic

    Echoes of the Cholas in Today’s Bharat

    Conqueror of the Seas: Rajendra Chola and the Rise of Naval Bharat

    • Culture
    • History
    • Indology
  • Law
  • Lounge
    • All
    • Books
    • Cinema
    • Entertainment
    • Food
    • Games
    • Health
    • Lifestyle
    • Satire
    • Sports
    • technology
    • Travel
    India Becomes First Country to Digitally Preserve Traditional Medicine Using Artificial Intelligence

    India Becomes First Country to Digitally Preserve Traditional Medicine Using Artificial Intelligence

    Highest RTP Casino Games to Get Better Wins

    Highest RTP Casino Games to Get Better Wins

    How to Use Eyebrow Tinting Kits Like a Salon Expert

    How to Use Eyebrow Tinting Kits Like a Salon Expert

    One in Four Indian Married Couples Are Now Overweight

    ICMR Study: One in Four Indian Married Couples Are Now Overweight or Obese—Shared Lifestyle to Blame

    • Books
    • Cinema
    • Food
    • Health
    • Sports
    • technology
    • Travel
    • Satire
Tfipost.com
  • Premium
  • Politics
    • All
    • Analysis
    • Opinions
    • Trending
    Demand for Legislation to Curb Forced Conversions

    Goa CM Pramod Sawant Proposes Anti-Conversion Law Amid Rising Concerns Over ‘Love Jihad’ Network

    A Response to Dr. Ruchika Sharma’s Reading of History

    On Truth and Taxes: A Response to Dr. Ruchika Sharma’s Reading of History

    Hinduphobic YouTuber Apologises After Hurting Hindu Sentiments

    Hinduphobic British YouTuber, Who Ate Chicken at ISKCON Restaurant, Apologises After Hurting Sentiments of Millions

    India Makes Big Jump In Henley Passport Index, Visa-Free Entry To 59 Countries Now

    Indian Passport Climbs Up to 77th in Global Ranks: Visa-Free Access to 59 Countries Now Possible

    • Analysis
    • Opinions
    • Trending
  • Economy
    • All
    • Business
    • Economy1
    • Finance
    Ahead of PM Modi's visit, Cabinet approves free trade agreement between India and UK

    PM Modi to Sign Landmark Free Trade Deal With UK as Cabinet Gives Green Light

    Bengal’s Business Exodus: 6,688 Companies Flee State Since Mamata Took Office

    Bengal’s Business Exodus: 6,688 Companies Flee State Since Mamata Took Office

    US Trade Officials to Visit India in August for Crucial Talks

    US Trade Officials to Visit India in August for Crucial Talks

    Importance And Value Of Brand Logos In A Competitive Market

    Importance And Value Of Brand Logos In A Competitive Market

    • Business
    • Finance
  • Defense
    • All
    • Defence
    • Strategy
    • Weaponry
    BITS Students Build Kamikaze Drones, Power Indian Army

    Kamikaze Drones from Campus Hostel : This is How Two BITS Students Deliver Combat-Ready Drones to Indian Army

    Apache: World’s Most Advanced Attack Helicopter Now in Indian Hands

    Apache Choppers Near Pakistan Border: A Strategic Game Changer for India

    MiG-21 Fighter Jets to Be Retired from Indian Air Force Service by September

    MiG-21 Fighter Jets to Be Retired from Indian Air Force Service by September

    UK F-35B Stealth Jet Finally Departs Kerala Airport After Month-Long Grounding

    UK F-35B Stealth Jet Finally Departs Kerala Airport After Month-Long Grounding

    • Defence
    • Strategy
    • Weaponry
  • Geopolitics
    • All
    • Africa
    • Americas
    • Asia Pacific
    • Europe
    • South Asia
    • West Asia
    Delhi Reopens Tourist Visas for Chinese Citizens After 5 Years

    India-China Ties Back on Track? Delhi Reopens Tourist Visas for Chinese Citizens After 5 Years

    Pakistan Offers Protection—Only After 20 Chinese Nationals Die

    Pakistan’s Terror Problem Hits China, After 20 Deaths Shehbaz Makes Empty Promise on ‘Protection’

    Indian Student Seriously Injured in Adelaide, Australia In Racially Motivated Attack: 'F**K off, Indian'

    Indian Student Seriously Injured in Adelaide, Australia In Racially Motivated Attack: ‘F**K off, Indian’

    Indian Assaulted in Dublin in Suspected Racist Attack

    Indian Origin Amazon Employee Assaulted in Dublin, Ireland in Racist Attack

    • Africa
    • Americas
    • Asia Pacific
    • Europe
    • South Asia
    • West Asia
  • Knowledge
    • All
    • Culture
    • Education
    • History
    • Indology
    NCERT Textbook Reveals Mughal Religious Intolerance

    Ruthless Babur, Violent Akbar, Destructive Aurangzeb: NCERT Textbook Reveals Mughal Religious Intolerance

    India Built Gardens Long Before Babur Dreamt of Charbagh

    Before the Mughals: India’s Civilisation Built Gardens Long Before Babur Dreamt of Charbaghs

    Revisiting the MANUSMRITI: Why India’s Youth Must Study This Ancient Epic

    Revisiting the MANUSMRITI: Why India’s Youth Must Study This Ancient Epic

    Echoes of the Cholas in Today’s Bharat

    Conqueror of the Seas: Rajendra Chola and the Rise of Naval Bharat

    • Culture
    • History
    • Indology
  • Law
  • Lounge
    • All
    • Books
    • Cinema
    • Entertainment
    • Food
    • Games
    • Health
    • Lifestyle
    • Satire
    • Sports
    • technology
    • Travel
    India Becomes First Country to Digitally Preserve Traditional Medicine Using Artificial Intelligence

    India Becomes First Country to Digitally Preserve Traditional Medicine Using Artificial Intelligence

    Highest RTP Casino Games to Get Better Wins

    Highest RTP Casino Games to Get Better Wins

    How to Use Eyebrow Tinting Kits Like a Salon Expert

    How to Use Eyebrow Tinting Kits Like a Salon Expert

    One in Four Indian Married Couples Are Now Overweight

    ICMR Study: One in Four Indian Married Couples Are Now Overweight or Obese—Shared Lifestyle to Blame

    • Books
    • Cinema
    • Food
    • Health
    • Sports
    • technology
    • Travel
    • Satire
No Result
View All Result
Tfipost.com
Tfipost.com
No Result
View All Result
  • Premium
  • Politics
  • Economy
  • Defense
  • Geopolitics
  • Knowledge
  • Law
  • Lounge

The Insolvency and Bankruptcy Code 2016 was a brilliant success but it had one drawback. IBC 2.0 will change that

TFI Desk by TFI Desk
30 July 2021
in Trending
ibc insolvency and bankruptcy code

(PC: ipleaders)

Share on FacebookShare on X

The Insolvency and Bankruptcy Code, 2016 was a huge success in solving corporate insolvency in India. The promoters who were exploiting the loopholes of the legal system and did not pay back deliberately started running after creditors to pay back to ensure that they do not lose control of the company.

However, the IBC was not a big success in the case of resolution of Medium and Small Enterprises because many cases were taking too much time and National Company Law Tribunal was burdened with too many proceedings.

RelatedPosts

Pradhan Mantri Mudra Yojana at 10: Fueling India’s Credit Revolution at the Grassroots

Budget 2025: All you need to know

How Matchboxes Sparked a Revenue Boom

Load More

Moreover, in the case of corporates, the intention of IBC was to ensure that the defaulters lose control of the company while in the case of SMEs, the intention is that the unit is revised and run more efficiently because these entities have very few borrowers in the open market.

Therefore, the government promulgated the Insolvency and Bankruptcy Code (Amendment) Ordinance, 2021, which aims to provide a window for a pre-packaged insolvency resolution mechanism, an alternative method of providing a corporate rescue plan for MSMEs.

Under the pre-packaged insolvency resolution mechanism, MSMEs (the debtor) can request the creditor to start insolvency proceedings, unlike the corporate insolvency resolution process in which only the creditor can ask for a resolution process. Any MSME with more than 10 lakh rupees of debt obligation can request the resolution process and if the creditor and debtor agree to the plan, they can send it to NCLT which will approve or reject the plan within a month.

The pre-packaged resolution plan would have two major benefits. NCLT would not be burdened with proceedings of the case between the creditor and debtor because it is a pre-packaged solution with both parties agreed and the second on the part of MSMEs whose resolution proceedings would take only 120 days (90 days to submit the resolution and 30 days for NCLT to approve or reject it) as compared to more than 270 days in the earlier framework.

The amendment would make the resolution of MSMEs more speedy and attractive. “Ordinarily where haircuts are involved, forensic/transaction audits become imperative, and a negative report becomes a roadblock in resolution involving the same management,” Anoop Rawat, Partner, Insolvency & Bankruptcy at Shardul Amarchand Mangaldas & Co., said.

“In order to motivate resolution under the PIRP, the RBI guidelines on account status may be aligned with the objective of IBC and the lenders may be given the benefit of account upgradation upon resolution. There is a need for the IBBI and RBI to find middle ground on these regulations to make the PIRP more attractive,” he added.

The Insolvency and Bankruptcy Code is one of the most important reforms introduced to date in India’s corporate history. It has inculcated a corporate culture of paying back loans to banks and Financial Institutions. Borrowers know that the costs of defaulting and undergoing the IBC process are rather exorbitant. This is what explains the Modi government’s exploits when it comes to reducing the NPAs and mammoth recovery of dues by Banks and Financial Institutions. The new amendment will make the law very attractive for the MSMEs also.

Tags: Insolvency and bankruptcy CodeMSMEMSME sectorMSMEs
Share9TweetSend
Previous Post

Kejriwal and gang are super scared of Delhi’s new police chief and rightly so

Next Post

Mamata’s Man Friday Prashant Kishor may join Congress as Mamata’s agent

Related Posts

Demand for Legislation to Curb Forced Conversions
Trending

Goa CM Pramod Sawant Proposes Anti-Conversion Law Amid Rising Concerns Over ‘Love Jihad’ Network

23 July 2025

In a significant political development during the monsoon session of the Goa Legislative Assembly, Chief Minister Pramod Sawant called...

Hinduphobic YouTuber Apologises After Hurting Hindu Sentiments
Trending

Hinduphobic British YouTuber, Who Ate Chicken at ISKCON Restaurant, Apologises After Hurting Sentiments of Millions

23 July 2025

In an age driven by clicks and shares, the line between humour and harm has never been thinner. And...

India Makes Big Jump In Henley Passport Index, Visa-Free Entry To 59 Countries Now
Trending

Indian Passport Climbs Up to 77th in Global Ranks: Visa-Free Access to 59 Countries Now Possible

23 July 2025

In a significant boost for global Indian travellers, the latest Henley Passport Index has placed India at the 77th...

Load More

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms of use and Privacy Policy.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Currently Playing

Britain’s Million-Dollar Bird Finally Takes Off!

Britain’s Million-Dollar Bird Finally Takes Off!

00:06:43

Maharashtra targets crypto christians. fake dalit quota scam exposed.

00:04:16

The Forgotten Maratha Legacy in Tamil Nadu

00:07:37

India’s ULRA Bomber: 12,000-km Beast That Can Strike Anywhere Without Refueling

00:07:39

The Shocking Truth About Mass Conversions in Tamil Nadu

00:07:26
Facebook Twitter Instagram Youtube
tfipostTfipost.com
Right Wing | News Analysis | Indian Opinion
  • About us
  • Careers
  • Brand Partnerships
  • Terms of use
  • Privacy Policy
  • Sitemap
MASHABLE IS A GLOBAL, MULTI-PLATFORM MEDIA AND ENTERTAINMENT COMPANY. FOR MORE QUERIES AND NEWS, CONTACT US AT info@mashablepartners.com


©2025 TFI Media Private Limited

No Result
View All Result
  • Premium
  • Politics
    • Analysis
    • Opinions
    • Trending
  • Economy
    • Business
    • Finance
  • Defense
    • Defence
    • Strategy
    • Weaponry
  • Geopolitics
    • Africa
    • Americas
    • Asia Pacific
    • Europe
    • South Asia
    • West Asia
  • Knowledge
    • Culture
    • History
    • Indology
  • Law
  • Lounge
    • Books
    • Cinema
    • Food
    • Health
    • Sports
    • technology
    • Travel
    • Satire
TFIPOST हिन्दी
TFIPOST Global

©2025 TFI Media Private Limited