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Insolvency and Bankruptcy Code, 2016
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What is the primary objective of the Insolvency and Bankruptcy Code, 2016?
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A
To facilitate the timely and efficient resolution of insolvency
💡 Explanation:
The Insolvency and Bankruptcy Code, 2016 aims to streamline and expedite the insolvency resolution process, ensuring a fair and equitable distribution of assets among creditors and promoting the revival of viable businesses.