The Government of India has finally promulgated the much awaited ordinance [IBC (Amendment) Ordinance 2020], on 5th June 2020, and has cleared out the air for stakeholders. The new rules have been made immediately put into effect. The ordinance has majorly dealt with the aspects pertaining to provisions concerning ‘default’ and ‘wrongful trading’. Whether the ordinance has clarified everything regarding the policy or is still open to various interpretations and skepticism is something that needs to be seen by critically analyzing the changes.
Critical Analysis of the policy reforms regarding IBC sector announced by the Finance Minister as a part of "Atmanirbhar Bharat Yojana" in the 5th tranche of the economic stimulus package announced by the government. The article intends to analyse the impact of these announcements on various stakeholders and Indian Economy. The author has deciphered the approach of the government and the ambiguities in these announcements while commenting on the same.