Insolvency resolution stumbles on 4 key issues raised by prospective buyers

Experts say the new law is superior to a winding-up petition which was filed by creditors under the Companies Act

With prospective buyers of stressed assets challenging the interpretation of clauses in the Insolvency and Bankruptcy Code (IBC) in four key areas, the resolution of many of them would depend on the final decisions of the National Company Law Tribunal (NCLT) or through amendments to the IBC by the government.
 
Experts, however, say the plethora of legal cases being filed is not unusual. They say the new law is superior to a winding-up petition which was filed by creditors under the Companies Act. The key difference is that it wasn't time-bound though an official liquidator was appointed.
 
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