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[Music] hello and welcome to the big picture the parliament has passed a vital law the insolvency and bankruptcy code 2016 which is aimed at making it easier to do business in India by providing for time bound resolution of insolvency processes faster turnaround of businesses and to create a database of serial defaulters this code repeals some outdated laws and amends various laws related to banking and industries however there are many challenges it is said one of the challenges after the passing of the law is to ensure effective functioning of insolvency professional agencies to discharge functions which are presently being discharged by the courts this law which was passed up to a JPG looked at it has found almost unanimous approval from all political parties however already concerns have been expressed about how effectively it would be implemented most importantly how will this new code help in the lakhs of crores of rupees which have now become non-performing assets how will this...