What is the Insolvency and Bankruptcy code (IBC)?

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What is the Insolvency and Bankruptcy code (IBC), what is the process for the proceedings and the role of the National Company Law Tribunal?
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Insolvency and bankruptcy code is consolidation of various law such as sica act, partnership act ,LLP act, presidential town insolvency act, provincial town insolvency act, and various statutory law where provision of revival of sick company,firm ,LLP, indicate


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