POSITION OF STATUTORY DUES BEFORE AND AFTER THE AMENDMENT IN SECTION 31(1) OF THE INSOLVENCY AND BANKRUPTCY CODE, 2016
Before the enactment of the Insolvency and Bankruptcy Code, 2016[1](IBC), the legislative framework in India relating to the legal basis of the Insolvency and Restructuring conduct of the corporate persons, limited liability partnership firms, individuals and partnership firms was very disintegrated. The existence of multiple laws and complexities resulted in delays in the timely resolution …