Washington, May 13, 2016: Hailing the passage of the Indian Insolvency and Bankruptcy Code, 2015, the U.S. India Business Council (USIBC) commends the Government of India and members of Parliament for approving the significant reform, which will add to the attractiveness of India as a destination for long-term foreign investment.
“The passage of this Bill will establish an entrepreneur-friendly legal bankruptcy framework for speedy, efficient, and consistent resolution of insolvencies for companies and individuals. The Bill is another feather in the cap of the Government’s drive to improve the ease of doing business for both domestic and global investors,” said Dr. Mukesh Aghi, President of USIBC.
“The Council looks forward to the successful implementation of the new Bankruptcy Code in the coming months,” he said.
On June 7, 2016, USIBC will welcome the Honorable Prime Minister as the guest of honor for the its 41st Annual Leadership Summit and will recognize thsignificant development during the gathering of senior Indian and American leaders from the public and private sectors in Washington, DC.
Corporate Comm India (CCI Newswire)
