Comprehending Underpinnings of Insolvency and Bankruptcy Code, 2016

Swiss Ribbons Pvt. Ltd. & Anr. v. Union Of India & Ors. (Supreme Court) “The defaulter’s paradise is lost. In its place, the economy’s rightful position has been regained”, this is how the Supreme Court summed up the judgment upholding the constitutional validity of various provisions of the Insolvency and Bankruptcy Code, 2016 (herein referred to as “Code”). The Code paves way for a consolidated and un-bifurcated exhaustive law for insolvencies and bankruptcies applicable to corporate persons, firms and individuals. The amalgamated provisions of the curren...