Apr 30, 2022
The objective of enacting Insolvency and Bankruptcy Code, 2016 is eminent to all. However, the undefining haircut offered to the creditors in Jet Airways and Videocon has opened a pandora’s box of criticism which has eventually questioned the foundation of the code. Distressed companies undergoing CIRP have become an easy bait for the financially viable companies by which they get the assets of stressed companies at a price way below the market price.