‘Bankruptcy Code will improve ease of doing business’

Bhubaneswar, Dec 11: After Good and Services Tax (GST), Bankruptcy
Code 2016 will be the biggest economic reform for promoting the ease of doing
business in India, said Nalco CMD Dr Tapan Kumar Chand on Sunday.
“Industries across the globe are passing through difficult
times, marked by sluggishness and slump in business and growth. But there is a
bright spot where growth is occurring and everybody is eyeing India which is
clocking a growth of more than seven percent. There are big aspirations which
are necessary to improve our ability to match them,” said Chand, while
addressing at a seminar on ‘Insolvency and Bankruptcy Code’ organized jointly
by the Institute of Company Secretaries of India (ICSI) and Insolvency and
Bankruptcy Board of India.
“The enactment of the Code is a historic opportunity to
implement it in the right earnest to unlock capital and ensure that dues of the
workers and employees get the priority that is due. The Code would take India
from among relatively weak insolvency regimes to become one of the world’s best
insolvency regimes,” Dr. Chand informed.
Among others, Dr MS Sahoo, Chairman, Insolvency and
Bankruptcy Board of India, Mamata Binani, president, ICSI, Ashok Kumar Mishra, Chairman,
Priyadarshi Nayak, Vice-Chairman, and S N Mallick, Secretary of ICSI
Bhubaneswar Chapter also addressed the gathering.

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