A decade after its enactment, the Insolvency and Bankruptcy Code has reshaped corporate risk management, contracting, transaction structuring and distressed acquisitions. For general counsel, the evolving framework calls for early intervention, careful diligence and rigorous procedural compliance.
Teng Years of IBC: The General Counsel Perspective
As a transformative legislation, the Insolvency and Bankruptcy Code, 2016 (IBC) replaced the fragmented and unwieldy insolvency and recovery proceedings with a globally comparable framework, emphasising creditor-in-control, value preservation/maximisation, business continuity and time-bound resolutions. The IBC evolved over a decade through legislative amendments, including the latest IBC…