A handbook on Insolvency and Bankruptcy Code - A Condensed Guidebook for Directors

A handbook on Insolvency and Bankruptcy Code: A Condensed Guidebook for Directors



https://CourseWikia.com

English | September 19, 2019 | ISBN: N/A | ASIN: B07Y53X83X | 70 pages | MOBI | 1.34 Mb

The Insolvency and Bankruptcy Code (IBC) is thebankruptcy law of India which seeks to consolidate theexisting framework by creating a single bill for insolvencyand bankruptcy. The Code received the assent of thePresident of India on 28 May 2016. The bankruptcy code is aone-stop solution for resolving insolvencies whichpreviously was a long process that did not offer aneconomically viable arrangement. The code aims to protectthe interests of small investors and make the process of doingbusiness less cumbersome. Significant changes andadvances in corporate governance and the board's role havecome about since the IBC promulgated in India.This handbook covers guidance on processes and practicesunder the IBC. It addresses business needs that boarddirectors seek, as a step in furthering the board's leadershipfor directing their companies, in a transparent, cultural andethical manner. This guide provides the basic informationessential to a director for interpreting the provisions of thecode. It delves into the board's strategic role and insight intovalue creation, risk-taking, accountability, and legalcompliance obligations. The object of this handbook is toassist the directors in making the significant advance, in theinterest of the company and more broadly of society.