India, Aug. 18 -- The Government of India issued the following news release:
The Insolvency and Bankruptcy Code (IBC) has played a crucial role in reshaping India's insolvency framework. The major achievement of the Insolvency and Bankruptcy Code (IBC) has been its ability to resolve financially distressed companies and realisation by the creditors thereon. By offering a clear and time-bound framework for revival, the IBC has strengthened creditor confidence and encouraged both domestic and foreign investment. The IBC has played a pivotal role in improving the ease of doing business in India by introducing a faster and more structured insolvency resolution process maximising the value of assets, promote entrepreneurship, availability of cr...