Insolvency and Bankruptcy Code, 2016 - Level playing field for all

Sati Mukund, Vice President - Legal, Barclays Bank PLC

The Insolvency and Bankruptcy Code, 2016 (“the Code”) can be considered as the biggest economic reform in India. Though the Code is undergoing lot of change, it is nevertheless, one of the rarest and most efficient piece of legislation so far and has a potential to be a game changer. It is a comprehensive code governing insolvency for companies, partnerships and individuals. The recent amendment act (The Insolvency and Bankruptcy Code Amendment Act, 2018) also included : (a) Proprietorship Entities, which are un regulated entities; and (b) personal guarantors to corporate debtors, thereby creating fair and comprehensive provisions governing insolvency of entities and individuals.

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India Insolvency Banking & Finance July 2018 Vol.11, No. 44, Summer 2018

Sati Mukund

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Sati Mukund, Vice President – Legal, Barclays Bank PLC, 801/808, Ceejay House, Shivsagar Estate, Worli, Mumbai 400 018. Profile : Lawyer and Company Secretary by qualification. Has more than 23 years of experience in handling a variety of coporate legal issues in banking and financial sectors.

Barclays Bank PLC

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Barclays is a transatlantic consumer and wholesale bank offering products and services across personal, corporate and investment banking, credit cards and wealth management, with a strong presence in our two home markets of the UK and the US. With over 325 years of history and expertise in banking, Barclays operates in over 40 countries and employs approximately 80,000 people. Barclays moves, lends, invests and protects money for customers and clients worldwide. For further information about Barclays, please visit our website home.barclays

India Insolvency Banking & Finance July 2018 Vol.11, No. 44, Summer 2018