In India, the legal and institutional machinery for dealing with debt default has not been in line with global standards. The recovery action by creditors has not had desired outcomes, also law related to lenders recovery was in poor state of affairs which eventually reflects in the state of the credit market in India.
In order to promote entrepreneurship, availability of credit, and balance the interests of all stakeholders by consolidating and amending the laws relating to reorganization and insolvency resolution of corporate persons, partnership firms and individuals in a time-bound manner and for maximization of value of assets the Insolvency and Bankruptcy Code, 2016 Commenced by GOI on 28th May 2016.
Also, the Companies Act encouraging the economy by entrepreneurship has presented with a few new ideas and has additionally endeavored to streamline a significant number of the necessities by presenting new definitions. The Act Introduce critical changes in the organization's law in India, particularly in connection with responsibility, revelations, speculator assurance and corporate governance.
However, the transactions undertaken as a part of the resolution technique could end result in taxes, which may also unhinge the financials deal, for that reason making the resolution method less efficient and effective.
ASSOCHAM, in collaboration with Ministry of Law and Justice and ICSI is organizing a National conference on Judicial Synergies “Input of Legislations for Businesses” on Saturday, 25th August 2018 in New Delhi, India to give platform for an in-depth discussion on law, procedure, and practice around the Code and interpretation of the amendments by the best minds in this domain.
Registration fee is Rs. 3000/- (Incl. 18%GST) per delegate.
Mr. Rakesh Shukla, Email ID: firstname.lastname@example.org, M: 9871600922
For more details read the brochure below: