USIBC Hails the Passage of Indian Insolvency and Bankruptcy Code, 2015

usibcMay 12, 2016, Washington: 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.

About the U.S.-India Business Council:

Formed in 1975 at the request of the U.S. and Indian governments, the U.S.-India Business Council is the premier business advocacy organization, comprised of more than 300 top-tier U.S. and Indian companies advancing U.S.-India commercial ties. The Council is the largest bilateral trade association in the United States, with liaison presence in New York, Silicon Valley, and New Delhi. The Council’s primary mission is to serve as the direct link between business and government leaders, forge consensus, and play a proactive role by being the voice of industry on both sides, thereby enabling growth in trade and investment between India and the United States