REC organizes session on Insolvency and Bankruptcy Code (IBC)
Dated Aug 27 2020
REC Limited organized a virtual session on Insolvency and Bankruptcy Code (IBC) taken by Mr. Anoop Rawat, a senior partner from Shardul Amarchand Mangaldas for its employees. Insolvency and Bankruptcy Code, 2016 (IBC) has been touted as one of the most important reforms in present times and has been a major factor in promoting ease of doing business in India. It’s a mechanism that focuses on time bound resolution of debt while putting the creditors in the decision-making seat and is a very effective and necessary legislation in the present times, especially in the lending business.
REC Limited, being one of the biggest NBFCs in the country, has an exhaustive loan book and thus it was of utmost importance that every member of REC has a basic understanding of IBC. The highly informative and engaging session saw a large turnout of the employees who had displayed great curiosity on the subject and remained inquisitive throughout the session.