Feudalism of corporate debtors gone after IBC implementation, says CEA

The Insolvency and Bankruptcy Code (IBC), which came into force in 2016, provides for a market-linked and time-bound resolution of stressed assets. Once a stressed company is admitted for resolution under the IBC, the Committee of Creditors (CoC) will be in charge and the company#39;s affairs are managed by a resolution professional. If the resolution is not successful, then the company goes into liquidation.

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