Insolvency resolution framework consolidates insolvency law for time-bound reorganisation, value maximisation, and stakeholder balance. The Insolvency and Bankruptcy Code, 2016 consolidates and amends the law relating to reorganisation and insolvency resolution of corporate persons, partnership firms and individuals in a time-bound manner. It seeks maximisation of asset value, promotion of entrepreneurship and credit availability, balancing of stakeholder interests, alteration in the order of priority of Government dues, and establishment of the Insolvency and Bankruptcy Board of India.
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Provisions expressly mentioned in the judgment/order text.
Insolvency resolution framework consolidates insolvency law for time-bound reorganisation, value maximisation, and stakeholder balance.
The Insolvency and Bankruptcy Code, 2016 consolidates and amends the law relating to reorganisation and insolvency resolution of corporate persons, partnership firms and individuals in a time-bound manner. It seeks maximisation of asset value, promotion of entrepreneurship and credit availability, balancing of stakeholder interests, alteration in the order of priority of Government dues, and establishment of the Insolvency and Bankruptcy Board of India.
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