Freedom of entry is useless without freedom of exit: Dr. M. S. Sahoo, Chairman of the Insolvency and Bankruptcy Board of India

17 July, 2017

Description

Freedom of entry into a market is useless without freedom of exit. This was said by the Chairman of the Insolvency and Bankruptcy Board of India – Dr. M. S. Sahoo at ASSOCHAM’s 6th National Conference on Mergers and Acquisitions in New Delhi. India has talked of economic liberty since 1992, but we have lacked the institutions to enable it he added.  

Addressing the gathering, the Joint Commissioner, Ministry of Corporate Affairs – Amardeep Singh Bhatia stated that the Companies Act of 2013 had been well received by the country. He also listed out some of the suggestions that the ministry had received for improving the Act.  

Also, present on the occasion was the Chairman of ASSOCHAM’s National Council for Mergers and Acquisitions – Pawan Kumar Vijay who called for dedicated benches for Mergers and Acquisition cases. He also enumerated some suggestions for improving the present regulations.

The event also saw several technical discussions on issues such as the Companies Act 2013, Fast Track Mergers, Cross Border Mergers, Insolvency and Bankruptcy Code, 2016, Recent Developments in Competition Law affecting Mergers and Acquisitions, Stamp duty implications and the Role of SEBI and Stock Exchanges. Prominent dignitaries that participated in the event included Vice President ICSI – Makarand M Lele, Managing Partner, Hammurabi and Solomon – Dr. Manoj Kumar; Regional Director, SEBI – Amit Pradhan; Central Council Member, ICSI Vineet Chaudhary; Country Counsel India and Company Secretary, Boeing International Corporation India – Dr. Akhil Prasad; Partner, Deal Advisory, Mergers and Acquisitions Tax, KPMG – Prashant Kapoor, Founder Kishore Soni and Co. Chartered Accountants – Kiishore Soni; Secretary general, ASSOCHAM – D. S. Rawat and Co-Chairman ASSOCHAM National Council for Mergers and Acquisitions – G P Madaan.