Budget Day Input Announcement on IBC Ramesh K. Vaidyanathan, Managing Partner, BTG Advaya
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Below the Budget Day Input Announcement on IBC By Ramesh K. Vaidyanathan, Managing Partner, BTG Advaya
The proposed amendments to the Insolvency and Bankruptcy Code and the decision to add more tribunals of the NCLT and strengthening of the NCLAT will help to improve recovery of stressed assets. The proposed integrated platform is a welcome move as well. The integrated technology platform will also bring accountability to the entire process and improve speed. The decision to earmark some of the tribunals exclusively to cases under the companies law is to be welcomed. Needless to add, a lot will depend on ensuring that vacancies are filled up faster and competent members are appointed, an aspect that has weighed the system in the recent past.
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