The Union Government will implement the Insolvency and Bankruptcy Code which is going to be a game changer as it will change the entire system, Bureaucracy Today has learnt.
“You should be rest assured that the Insolvency and Bankruptcy Code is going to be implemented,” said Minister of State for Finance Arjun Ram Meghwal while inaugurating an ASSOCHAM conference on ‘New Corporate Insolvency Regime’ recently in New Delhi.
Terming it not simple but a very important subject, he said that Insolvency and Bankruptcy Code is going to be a game changer as it will change the entire system.
“The implementation process of Insolvency and Bankruptcy Code began only in 2017 and it is such a huge cultural shift that we will have to be extremely careful,” he added.
He said that it is imperative to see that the individual’s entrepreneurial skill does not get wasted due to this process.