THE INSOLVENCY AND BANKRUPTCY CODE (AMENDMENT) ACT, 2021
Insolvency and Bankruptcy Code (Amendment) Ordinance, 2021 was promulgated on April 4, 2021. It amends the Insolvency and Bankruptcy Code, 2016. Insolvency is a situation where individuals or companies are unable to repay their outstanding debt. The bankruptcy code is a one-stop solution for resolving insolvencies, which previously was a long process that did…