IBBI chief Ravi Mital calls on Indian companies to embrace voluntary insolvency to boost productivity and maximize value, citing the success of such processes in developed countries. Learn more about the IBC and its potential benefits.
New Delhi, Jan 30 (PTI) IBBI chief Ravi Mital on Thursday said companies in India have not learnt how to use the insolvency law and pitched for efforts to ensure that more companies opt for the voluntary resolution process to increase productivity.
The Insolvency and Bankruptcy Code (IBC), which provides for a market-linked and time-bound resolution of stressed assets, came into force in 2016.
So far, most of the insolvency resolution processes have been initiated by creditors while in comparison voluntary…
