Exclusive
75
Opening Plenary
(L-R): Dr. M.S. Sahoo, Chairperson, Insolvency and Bankruptcy Board of India; Aakriti Raizada, Founder & Managing Editor, Legal
Era Magazine, Legal Media Group; Damini Marwah, General Counsel, Axis Bank; Amarjit Singh Chandhiok, President, INSOL India;
Sudarshan Sen, Chief General Manager, Reserve Bank of India; Ashish Chhawchharia, Partner, Grant Thornton
With the hire-purchase system and easy bank
loans for entrepreneurs becoming common,
the number and scope of lenders and creditors
has risen manifold. While lending, both
private and commercial, and its recovery, is
now one of the main instruments of growth,
navigating multiple laws and authorities is a
major roadblock. With a view to easing the
system, India Inc has introduced the Insolvency
Code, which is a unique piece of legislation,
probably the world’s finest. This new legislation
has the potential to resolve the nation’s bad
debts’ problem and improve its international
ranking in terms of ease of doing business. The
Summit deliberates on the 270 days’ journey
of implementation of the Code and attempts
to identify associated opportunities and
challenges so as to forge the path ahead.
Aakriti Raizada
Founder & Managing Editor, Legal Era
Magazine, Legal Media Group
The law endeavors to prevent insolvency;
wherever it is not possible to prevent, it
provides a market mechanism for orderly
resolution of insolvency in a time-bound
manner; where resolution is not possible, it
facilitates exit wherever required.
Dr. M.S. Sahoo
Chairperson, Insolvency and Bankruptcy Board of India
Associate Partners
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| L egal E ra | N ovember 2017