Debarment of The Defaulting Resolution Applicants: A Need of The Hour

The Insolvency and Bankruptcy Code, 2016 ("Code") and the regulations made thereunder have witnessed several amendments and litigations since the date of notification of the Code. It is an admitted fact that many corporate debtors have seen resolution under the Code, yet there are number of cases which have gone into liquidation due to varied reasons. The courts and tribunals in India have been working tirelessly to implement the spirit of the Code, that is, to promote resolution of...