Insolvency and bankruptcy code 2016 book
:: Welcome To IICA ::Pranav Khatavkar is a practicing advocate in the Bombay High Court and penned down one of the first commentary on the Insolvency and Bankruptcy Code " Code ". The book was published in , the same year as the Code was enacted. The book is divided into five parts and runs into nearly pages. Before delving into the substantive provisions of the Code, there is an introductory section that introduces the salient new concepts that the Code brings to the Indian jurisprudence. Pranav has identified the relevant provisions applicable to these concepts in the Code and reproduced them, which will be helpful for anybody interested in the subject. The introductory chapter then comprises flowcharts describing the: i corporate insolvency resolution process; ii Liquidation Process; iii Fresh Start Process; iv Insolvency Resolution Process; and v Bankruptcy Order for individuals and partnership firms.
Enactment of the Insolvency and Bankruptcy Code is an important reform for India. The Government moved at an unprecedented pace to enact and operationalise the Code. The Supreme Court has already delivered many landmark judgments in this short period. Other stakeholders responded with enthusiasm to support the Code. The Government keenly observed developments and experience in the insolvency process of the cases filed and rapidly brought in changes to plug the gaps spotted in the Code to make the process and outcomes more efficient and efficacious. Two sets of amendments were introduced in the Code, one in November and the second in June by way of an Ordinance, as Parliament was not in session in these months.
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The event commenced with Mr. Justice S. Ravindra Bhat. He praised Mr. Ashish Makhija in capturing the comprehensive and dynamic nature of the bankruptcy law in this book. He particularly emphasized the analysis done by the author on each section of the Insolvency and Bankruptcy Code, Code and the way he has interpreted it in an easy to understand manner.