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Shot in the arm for acquisitions under IBC: A walk through the amendment and its implications

The attempt at clearing the logjam of various challenges posed before corporate and investors who embark on acquisition of companies is commendable.

June 04, 2020 / 07:25 PM IST

Sonam Chandwani

In the background of the pandemic, depressionary economic forces have suffocated numerous industries, pulling back a curtain on how fragile, intertwined and financialized the Indian economy is.

As India Inc. oscillates between jumpstarting the economy or ensuring health and safety by way of a lockdown, several relief measures have been introduced to stymie financial losses and find new monetary resources for strengthening the weakening coffers.

Introduced in 2016, the Insolvency and Bankruptcy Code (IBC), was described as 'a straightforward and unsurprising indebtedness law', which is put through a litmus test in the pretext of the pandemic.