Pre-Packaged Deals In India

Owing to COVID-19, the Government, in an attempt to mitigate the predicaments of companies, decided to suspend the Insolvency and Bankruptcy Code, 2016. The subject of suspension of the IBC gained more impetus when clarification was issued on June 5th, 2020, as an ordinance. Section 10A, which essentially suspended the effect of Sections 7, 8, and 10 for a year, was inserted. The Coronavirus crisis has been a catalyst that led to this development, as the rationale was to protect the interests of the Micro, Small, and Medium Enterprises.

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Govt Relaxation to Ease Global IBC Regimes in Times of Pandemic

COVID-19 which erupted from the Wuhan region of China hastily turned into a global health emergency with threatening outcomes in Italy, America and some European countries. The disease which at the first instance seems to be normal has left long-running economies in peril of serious setback. The essay starts by assessment of the menacing effects of this pandemic on various economies including India.

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