New Delhi, Jun 28 (PTI) The Insolvency and Bankruptcy Board of India (IBBI) today said that India has won Global Restructuring Review’s “most improved jurisdiction” award. Also Read - Lionel Messi Transfer News Update: PSG Confirm Interest in Barcelona Skipper With Contract Ending Soon

The honour recognises the jurisdiction which improved its restructuring and insolvency regime the most over the last year, IBBI said in a statement. Also Read - WATCH: The Moment Rishabh Pant Hit The Winning Boundary to Seal Series at The Gabba

Global Restructuring Review (GRR) is an online daily news service and magazine on cross-border restructuring and insolvency law. Also Read - Caught on Camera: Delivery Driver Cancels Food Order & Eats it Outside Customer's House | Watch

“The award for the “most improved jurisdiction” is extremely well deserved,” said GRR editor Kyriaki Karadelis.

“… India narrowly missed out on the title to Singapore last year, but as the Insolvency and Bankruptcy Law of 2016 has begun to be tested in the new network oh National Company Law Tribunals resulting in several key, precedent-setting judgements, we felt it was the right time to celebrate India’s progress in this sector,” she added.

“Most improved jurisdiction” is one of the nine categories in which GRR presents the award, which were introduced in 2017.

This is published unedited from the PTI feed.