IBC a Winner for Ailing Enterprises
25 May 2018
FICCI organized a conference on 'Effective Resolution of Stressed Assets'. FICCI recognizes that IBC (Insolvency & Bankruptcy Code) is a landmark legislation. It has been a harbinger of positive change. IBC has shown considerable and positive alacrity in terms of constant interaction of the government with stakeholders to bring about a strong, comprehensive and robust piece of legislation, which responds to the dynamics of the situation. And, reducing timelines can contain reduction in values, says FICCI. IBC seeks to provide a resolution which is beneficial to all the stakeholders, and not just the financial creditors. The law needs to be leveraged so that the stakeholders can derive maximum value. The aim of IBC is to seek the revival of companies than their liquidation as the companies with right management and entrepreneurship skill would be able to make a turnaround for the collective benefit of its stakeholders.