The Insolvency and Bankruptcy Code passed by the Parliament is a welcome overhaul of the existing framework dealing with insolvency of corporate, individuals, partnerships and other entities. Examine the impact of the Bankruptcy Act on the various stakeholders.

Question:

The Insolvency and Bankruptcy Code passed by the Parliament is a welcome overhaul of the existing framework dealing with insolvency of corporate, individuals, partnerships and other entities. Examine the impact of the Bankruptcy Act on the various stakeholders.