The implementation of Insolvency and Bankruptcy Code (IBC) was a path-breaking moment in the history of Indian financial sector. For first time, the country has got a loan recovery law that is tilted in favour of the creditor and not the debtor.
The Code, which was implemented in 2016, soon came to be known as the one of the biggest yet least talked-about reforms in the country. What the IBC did was faster resolution of loan default cases. Despite all the delays, the average time for resolution under IBC is close to 350 days, which is less than a year. Earlier, resolutions would take years with average time being 4.2 years. The recovery rate under IBC has also gone up from a mere 26% to 45%.
The advent of the Code also gave rise to a whole new ecosystem around it – Insolvency Resolution Professionals, IP entities, lawyers, auditors, valuers to information utilities. While lawyers and valuers and CAs have already been working in the space of loan restructuring and recovery, insolvency professionals are an altogether new set of professionals, who came into existence only after the IBC.
IBC has come as an all-new practice area for the exiting CAs, cost accountants, lawyers, company secretaries, etc. There are over 3,000 registered insolvency professionals, 69 IPEs, 12 registered valuers organizations, and over 3000 registered valuers (as on 31 March 2020).
This ecosystem needs a platform that gives them a 360-degree view of all that is happening in the insolvency and allied space. InsolvencyTracker is an online portal that gives you a full view of the insolvency and bankruptcy sector in India and abroad. News, views, daily updates, policy alerts, detailed features, graphs and graphics, numbers and data – we provide you everything and anything that is remotely related to insolvency, bankruptcy, restricting and stressed assets.
The Bankruptcy law in India is still in its infancy, and with time it will evolve into a much more mature law shorn of its shortcomings and lacunas. And with time will expand its scope with the government already working on group insolvency, cross-border insolvency and individual bankruptcy laws. Do watch this space for some exciting developments in future.
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Business Queries
In the dynamic and ever-evolving business landscape, opportunities often arise in the most unexpected places. One such avenue worth exploring is the Indian Bankruptcy Code, which has opened up a unique arena for strategic acquisitions and investments.
At Insolvencytracker.in, we have established a network of professionals who specialize in navigating the intricacies of the Indian Bankruptcy Code. Whether you are actively seeking acquisition targets, interested in distressed assets, or looking to invest in a strategic business opportunity, our team can help you navigate this complex terrain.
Our expertise in this field encompasses:
1. Identification of Distressed Assets: We have a keen eye for identifying distressed assets and businesses that align with your strategic objectives.
2. Due Diligence: Our experts conduct thorough due diligence to ensure that any potential acquisition meets your criteria and aligns with your long-term goals.
3. Legal and Regulatory Compliance: We ensure that all transactions comply with the Indian Bankruptcy Code and other relevant regulations.
4. Negotiation and Structuring: Our experienced negotiators work on your behalf to secure the most favorable terms and deal structures.
5. Post-Acquisition Integration: We assist in the seamless integration of the acquired assets or business into your existing operations.
If you are considering opportunities in the realm of bankruptcy acquisitions or distressed asset investments, we invite you to connect with us. Our team is committed to understanding your specific needs and objectives, and we will leverage our network and expertise to help you achieve your goals.
Please feel free to reach out to us. We will be delighted to arrange a consultation to discuss how we can assist you in identifying and capitalizing on strategic opportunities under the Indian Bankruptcy Code.
Queries can be sent at insolvencytracker@gmail.com