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Cross Border Insolvency: Challenges and Opportunities

A brief discussion about the theoretical basis for cross-border insolvency will help us to understand the issue in the proper perspective. According to Irit Mevorach, the theoretical basis for cross-border insolvency veers around three legal theories, namely Universalism, Territorialism and Modified Universalism...

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Posted Under: Corporate Law |

Fresh Start Process under personal insolvency provisions

The Fresh Start (FS) Chapter under the personal insolvency provisions in the Insolvency and Bankruptcy Code, 2016 (Code) has generated a fair bit of controversy. Reports in the media seem to have given the impression that this is a 'loan waiver' for all small borrowers....

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Posted Under: Corporate Law |

Economic Aspects of Personal Insolvency

New personal insolvency laws were designed to maximise the potential to promote efficiency and economic development. However, the design of a personal insolvency law and its impact on efficiency and growth are relatively less explored considering that this law is relatively new and still evolving compared to the law on corporate insolvenc...

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Posted Under: Corporate Law |

Information dissemination & recognition of Middle Income Class

The government garners a lot of funds from the salaried tax payers. The money collected through these direct taxes gets utilized towards betterment of the society, creation & maintenance of public infrastructure, upliftment of the poor and many other initiatives. Technological advancements has helped large corporates / government agen...

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Posted Under: Corporate Law |

The IBC Code: A Behavioural Perspective

The IBC Code has been hailed as one of the most important economic legislation in recent times, having reformed the much-needed exit mechanism for corporates, to start with, and having addressed an important aspect of ease of doing business in the country....

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Posted Under: Corporate Law |

The IBC Code and its Behavioural Impact

To summarise, while the Code is purely a legislation that codifies the run of the rule of law governing insolvency and bankruptcy proceedings in relation to companies (insolvency of individuals is yet to be brought under the ambit of this law), its sheer operation in the ecosystem has led to various consequences on behaviour of parties in...

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Posted Under: Corporate Law |

Observing and Measuring Behavioural Change| IBC 2016

One of the most significant changes observed on implementation of the Code is the behavioural change in the stakeholders involved in the resolution process....

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Posted Under: Corporate Law |

A Snapshot to Code on Wages, 2019

With a view to simplify the labour law structure in India, the parliament enacted the Code on Wages, 2019 (Code) on August 08, 2019. The Code is one of the 4 labour codes that were proposed by the government in order to consolidate around 40 above labour law legislations in India. The other codes are […]...

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Posted Under: Corporate Law |

IBC 2016 | The Code for Resolution

IBC Code is one of the most crucial reforms initiated in recent years that represents a paradigm shift for insolvency resolution in India. The Code is a game-changer in the sense that it motivates the management and promoters of firms to avoid default as their inefficiencies to operate above the optimum level may lead to shift in control...

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Posted Under: Corporate Law |

IBC 2016| The Code for Economic Growth

It might be useful to assess how the IBC Code is influencing the behaviour of various participants in the chain of economic growth. According to the author, they can be grouped into six broad categories, viz., lenders, operational creditors, borrowers, entrepreneurs, workforce and the economy at large....

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Posted Under: Corporate Law |