With the promulgation of the Insolvency and Bankruptcy Code, 2016 (“IBC”), India gains a comprehensive legislation which deals with insolvency and bankruptcy of companies, limited liability partnerships (“LLPs”), individuals and partnership firms. IBC seeks to repeal archaic laws and amend many legislations notable being the Companies Act, 2013 and the Recovery of Debts Due to Bank and Financial Institutions Act, 1993. Read More