Interview: How the Insolvency and Bankruptcy Code 2016 made it a fair life for creditors

In this special episode of The KAJ Masterclass senior Supreme Court Advocate Vivek Sood – the man who coined the expression "the fundamental right to internet" explains in detail how How the Insolvency and Bankruptcy Code 2016 made it a fair life for creditors and brought in a positive change for the Indian economy as a whole.

Prior to 2016, it was a creditors' hell and debtors' paradise, is how Mr. Sood puts it.

IBC forms a very special chapter in his upcoming book Progress of Indian Economy: Legislative Pro Activism Since 2015 being published by Thomson Reuters.

Watch here.

https://www.youtube.com/watch?v=d6lbjjnTgg0

About Vivek Sood

Vivek Sood is one of the leading senior counsels based in Delhi with three decades of law practice, a prolific author, a frequent speaker on contemporary legal and constitutional issues on public platforms, and has a massive following on social media. As a senior counsel, Sood is well known for being engaged in complex legal briefs in diverse branches of law including constitutional, commercial, and criminal laws. The present book is Vivek Sood’s sixth book and many more to come. Each of his books demystifies complex legal issues so that they can be read by one and all rather than only the legal community. He has written extensively on cybercrime, electronic evidence, immunity to Internet intermediaries, electronic contracts, taxation of Internet entities, intellectual property rights in the virtual world, arbitration, insolvency law, as well constitutional issues with respect to the Right to Privacy. Sood’s books are pioneering works on the subjects he chooses to write on. He coined the expression “Fundamental Right to Internet” in 2011, which was the title of his book. The expression was used for the first time by the Supreme Court in 2019 in the Kashmir Internet shutdown case. In 2021, Sood coined the expression “Commercial Justice” in his book titled “Emergence of Commercial Justice: Insolvency & Arbitration”. He then authored another widely read book titled “Right to Privacy: Arguing for the People” in 2021. Vivek Sood is widely followed on LinkedIn, Twitter, and Facebook.

About the upcoming book

This book is unique and pioneering work on the subject of economic progress ushered in India through pro-active legislative action since 2015. The book is a gamechanger as it adds new parameters to judge the Indian Economy. Till now, the Indian Economy was assessed only through numbers such as GDP growth, inflation, stock market indices, and other statistics. Vivek Sood has argued in this work that since 2015 the Indian Economy has progressed in terms of economic justice having been ushered through legislations and economic policies of the Government of India. RERA, Insolvency & Bankruptcy Code, Commercial Courts Act, Fugitive Offenders Act, and Arbitration law amendments are some of the legislations that have ushered economic justice and progress in the Indian Economy. The author has taken the debate to another level by arguing that the integration of J&K with mainstream India in 2019 has brought economic progress in the State. Economic policies of the Government of India such as Jan Dhan Bank accounts open a gamut of financial services for the common man which is a facet of economic justice. Startup India is a scheme that gives an opportunity to every citizen to create wealth and Unicorns thereby democratizing the Indian Economy.

About the show

On The KAJ Masterclass LIVE, senior journalist Khudania Ajay gets Masters from various fields from whom his wide and varied audience can Profit, either through Insights, Information or simply Learning. Almost daily.