"Bankruptcy code to reduce dependence on bank finance", says CMA Mahesh Shah, Past President, Institute of Cost Accountants of India at the Inaugural Session on Policy Dimension at the Insolvency and Bankruptcy Code Impact Analysis held on 12 January 2017 at Kolkata.

"In a bid to ensure greater ease of doing business, the Board is focusing on time-bound resolution for insolvency and exit. In our vision, the state’s job is to create a mechanism which will support a system which will let the market have its way and deliver, improving the ease of doing business is all about allowing businesses to granting a freedom of choice. That explains why we have moved to a model which is inclusive and participatory where the market takes the call, not the state." he explained.