Section 188 of IBC : Section 188: Establishment And Incorporation Of Board
IBC
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Explanation using Example
Imagine a situation where a new law firm, "Legal Solutions LLP," is expanding its services to include insolvency and bankruptcy matters. The partners of the firm need to understand the regulatory framework governing insolvency professionals and entities. They would look into the Insolvency and Bankruptcy Code, 2016, particularly at Section 188.
Under Section 188, the firm learns that the Insolvency and Bankruptcy Board of India (IBBI) is the regulatory body established by the government to oversee insolvency and bankruptcy proceedings in India. The fir...
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