The Insolvency and Bankruptcy Code, 2015:A Road towards Unified Legislative Framework

The Indian government is working towards creating a business friendly environment in India. In this direction it is trying to address the long pending issue of insolvency and bankruptcy of companies. The issue was acting as a roadblock in easing the doing of business. This article highlights the existing rules and regulations relating to insolvency, the need to bring such a reform and the Bankruptcy Code 2015 brought by the government.