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IBC To Come Back To Life Again. What To Expect?
Are NCLTs likely to see a rush of insolvency filings post March 25?
19 Mar 2021, 12:30 PM IST
In a week from now, the Insolvency and Bankruptcy Code will come back to life. The law has been in suspension since March last year due to the Covid-19 pandemic, and so far there’s been no indication by the government of another extension.To be clear, the suspension applied only for defaults arising post-March 25, 2020. And it prohibited perpetually the initiation of insolvency proceedings on account of default committed by a company...
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