India is currently the world's second largest telecommunications market with a subscriber base of 1,206.22 million as of March 2018 India's mobile economy is growing rapidly and currently constitutes more than 98% of all telephone subscriptions. During 2007-2018, the telephone subscriber base grew at a CAGR of 17.44% and the revenues from the telecom equipment sector are expected to cross US$ 26.38 billion by 2020.
The Government of India has been undertaking numerous initiatives to boost Foreign Direct Investment (FDI) into India and generally making it easier to do business. These include reengineering existing administrative processes with an attempt to reduce dependence on manual
The Insolvency and Bankruptcy Code, 2016 (IBC) has impacted companies and assets across various industries and has thrown up a range of opportunities for potential investors. In order to promote investment activity and ensure effective revival of stressed assets, it is critical for the legal framework to be unambiguous and practically workable.
The Insolvency and Bankruptcy Code (Amendment) Ordinance, 2018 (Ordinance) has been promulgated by the President of India on June 6, 2018. In what can be called as the most substantive amendment to the Insolvency and Bankruptcy Code, 2016 (IBC) till date.