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Demystifying Insolvency vs Bankruptcy under the Insolvency and Bankruptcy Code, 2016: Why Terminological Confusion Still Persists in Practice
Introduction : Terms in law are not synonymous as even words that might have a similar meaning can be completely different in their impact and therefore, the consequences. One such set of words which are similar in everyday language yet completely different in the legal language are “insolvency”, “bankruptcy”, “liquidation” and “winding up”. A layman might use them synonymously but the issue arises when such usage also happens within the legal world where it has significant r
2 days ago7 min read
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