COVID 19 changed the entire world. It made the entire world standstill because various forms of lockdowns were enforced by almost all countries of the world. From March 24th to August, India, the world’s largest democracy, went into a complete lockdown.
The global pandemic COVID-19 has brought the world to a halt and similar to the other countries, the nationwide lockdown imposed in India has impacted the business environment due to the suspension of markets and unavailability of workers which lead to certain modifications being made to Insolvency and Bankruptcy Code, 2016.
The Indian Government on 11th march 2020 invoked the colonial Epidemic Disease Act, 1897 along with the Disaster Management Act, 2005. This step was taken after the WHO declared COVID-19 as a global pandemic and to combat the spread of this deadly virus in India.
