Haircut: Coup de grace the intentions of the Insolvency & Bankruptcy regime in India!

Insolvency and Bankruptcy Code, 2016 is one of the major economic reform in India. Discharging debt through bankruptcy is the bedrock principle of insolvency systems across the globe. The discharge of honest insolvent has come to be regarded as the all-important feature of bankruptcy statute. Methodical and probable Insolvency & Debt resolution mechanism leads to financial inclusion, credit availability, job upholding and new job opportunities in the market. This mechanism ensures the survival of the distressed companies.