‘Insolvency process faster now’

There is adequate empowerment and capacity building happening to develop the right ecosystem for insolvency resolution, according to MS Sahoo, Chairperson, Insolvency and Bankruptcy Board of India (IBBI). “Ever since the new bankruptcy law (the Insolvency & Bankruptcy Code, 2016) came in last year, things have been moving faster and 20 corporate transactions are on,” he said on the sidelines of a FICCI conference, entitled ‘Insolvency & Bankruptcy Code — RERA and BTA’. Ar Rm Arun, Chairman, FICCI Tamil Nadu State Council, stressed on the need for decisions that ensure business continuity and not closure.