New Delhi, May 31 -- The Insolvency and Bankruptcy Code (IBC) has transformed India's insolvency landscape over the past decade by creating a unified, creditor-driven framework focused on timely resolution and value maximisation, NCLAT Chairperson Justice Ashok Bhushan said.
Addressing a "IBC & NCLT @10" to celebrate a decade of transformative insolvency reforms organised by PHDCCI here, Justice Bhushan described the law as one of India's most significant legal and economic reforms.
"The IBC transformed a fragmented and delay-prone insolvency regime into a unified, creditor-driven framework focused on time-bound resolution, value maximisation and accountability," he said.
Justice Bhushan noted that the NCLT and the National Company Law A...