Union minister of commerce andd industry Piyush Goyal on Thursday called the Insolvency and Bankruptcy Code (IBC), 2016, a “gamechanger reform” that has been the most successful law in insolvency resolution in the country. ALSO READ | FM Sitharaman tables bankruptcy code bill aimed at small firmsGoyal said the Centre suspended the IBC for a year – from March 2020 till March 2021 — in view of the coronavirus disease (Covid-19) pandemic. The economy is doing well and five years down the line the outlook looks very, very bright,” Goyal said. Goyal added that the IIIPI members are serving the nation’s interest by saving businesses and entrepreneurship in the country. Goyal listed out five guiding principles for insolvency professionals — integrity, objectivity, competency, confidentiality and transparency.

Source: Hindustan Times November 25, 2021 19:31 UTC