Workshop on "Insolvency & Bankruptcy Code 2016" for HDFC Bank was organized on 12th October, 2018 at Gurgaon.
Insolvency is the stage when a borrower is unable to pay his dues in time. And the bankruptcy is the legal status when a court declares a borrower bankrupt since he is not able to pay his liabilities
out of his total assets. The bankruptcy laws in India are very old, made under the British Raj. However, with some modifications, the bankruptcy laws have also found places in its own ways under the
SICA, DRT and SARFAESI Act. The Insolvency and Bankruptcy Code (IBC), 2016 has been enacted to merge all these existing laws related to insolvency and bankruptcy. Though it is a new tool for recovery
for the bankers, but it is viewed positively by both the lenders as well the borrowers. How far it will succeed and how effective it will be, we have tried to address in our one day workshop on
“Asset Resolution through Insolvency and Bankruptcy Code (IBC), 2016”.
The workshop was organized on behalf of BQ Academy, a pan India training institute for bankers.