Need for checks and balances? – Madras HC urges Parliament to evaluate the IBC
The Insolvency and Bankruptcy Code, 2016 (IBC), since its inception, has, inter alia, been a pivotal legal framework for resolving insolvencies. It provides a clean slate to companies that successfully undergo the Corporate Insolvency Resolution Process (CIRP), allowing them to start anew. However, the hon’ble Madras High Court’s (Madras HC/Court) ruling in the case of…