गालिब तेरी कश्ती के तलबदार बहुत हैं,
इस पार कुछ और उस पार बहुत हैं ।
जिस शहर में तूने खोली है शीशे की दुकान,
उस शहर मे पत्थर के खरीददार बहुत हैं ।
The Insolvency and Bankruptcy Code, 2016 (IBC) was passed in the Lok
Sabha in the month of May 2016. It took almost six months to pass the law
after it was introduced in the month of December 2015.
IBC that was passed in May 2016 replaced three existing laws on insolvency and bankruptcy.
The aim of introducing this law was to seek a consolidation of the existing frame work to create a single law for insolvency and bankruptcy.
There were several rules laid in the code one of which is the appointment of an independent insolvency professional who would though his independent means undertake the resolution process of the insolvent or sick companies.
There are around 1800 independent resolution professionals today who are offering such services today.
Devendra Jain was one of the first ones to get into this profession. This
book aims to highlight some of the issues that still plague the profession and also some simple solutions to solve them.
Having gained experience in the IBC field, Mr. Jain wrote and launched a book titled “Pioneer: Journey of an IP”. The book was launched at a function organized in New Delhi in the presence of learned personalities which included Sh. P P CHAUDHARY – Union Minister of State (Law & Justice & Minister of Corporate Affairs), Sh. Gajendra Singh Shekawat (Minister of State for Agriculture & Farmer Welfare), Dr. Mukulita Vijaywargiya (WTM –Research & Regulation Wing –IBBI).
The book contains various challenges faced by me and how countered them with my skill and experience in the resolution of NPA accounts. A few of them are narrated below
The book helped many other IPs and guided them to resolve any issues which may not have clear-cut references under the code. The book is also available on Amazon.
