View: Budget should iron out incongruities of the insolvency and bankruptcy code

As the objective of IBC is quick resolution, failing which a swift liquidation, it may be prudent for the legislature to clarify on inter-se rights of creditors with differing security interest not only in insolvency / Prepacks but also in liquidation. Similarly, clarity should be provided for quantification of disputed and contingent tax claims.

View: Budget should iron out incongruities of the insolvency and bankruptcy code
As the objective of IBC is quick resolution, failing which a swift liquidation, it may be prudent for the legislature to clarify on inter-se rights of creditors with differing security interest not only in insolvency / Prepacks but also in liquidation. Similarly, clarity should be provided for quantification of disputed and contingent tax claims.