Less than 12 months after the Insolvency and Bankruptcy Code came into force with the goal of easing the resolution of corporate insolvency, the Central government has passed an ordinance that significantly amends the original law. For further reading, visit “The Hindu”.
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Courtesy: The Hindu
Word List-1 (To Improve English Vocabulary)
- insolvency (noun) – a condition in which the financial difficulties of an individual or organisation are such it is unable to pay its debts.
- bankruptcy (noun) – legal state of insolvency. An individual or organisation is declared bankrupt if a court judges that the party involved can no longer meet debt payments to creditors. it is defined as the outcome of a legal procedure.
- preamble (noun) – introduction, preface, preliminary statement.
- antecedent (noun) – ancestor, forefather/forebear, predecessor.
- adversely (adverb) – unfavourably, disadvantageously; hurtfully/harmfully.
- deem (verb) – regard as, consider; think/suppose.
- debt (noun) – liability, financial obligation, borrowed capital.
- nub (noun) – crux, central point, main point/important point.
- quibble (verb) – criticism, objection, complaint (minor/trivial one).
- unscrupulous (adjective) – unprincipled, unethical, immoral.
- wilful defaulter (noun) – a person who is purposefully not repaying banks/lenders’ debt on time for various reasons.
- hardship (noun) – financial distress, suffering, affliction/trouble.
- objective (noun) – aim, intention, purpose.
- germane (adjective) – relevant, pertinent; appropriate; related
- liquidation (noun) – termination, dispatch, collapse.
- entrepreneurship (noun) – the process/activity of setting up a business.
- blunt (noun) – straightforward, frank/direct, forthright.
- mala fide (noun) – in bad faith. with an intent to deceive.
- turnaround plan/strategy (noun) – a plan or strategy to stop a company’s poor performance and to recover it as financially successful.
- sour (noun) – unpleasant, disagreeable, gone bad.
- in the wake of (phrase) – aftermath, as a consequence of, as a result of.
- downturn (noun) – setbacks, upsets, reverses/reversals.
- -laden (adjective) – burdened, hampered, overloaded.
- retrospective (adjective) – backdated, retroactive, backward looking/ex post facto.
- throw the baby out with the bathwater (phrase) – throw something valuable along with other things that are unwanted.
Click each one of the words above for their definition, more synonyms, pronunciation, example sentences, phrases, derivatives, origin and etc from http://www.oxforddictionaries.com/.
Definitions (elementary level) & Synonyms provided for the words above are my personal work and not that of Oxford University Press. Tentative definitions/meanings are provided for study purpose only and they may vary in different context. Use it with the corresponding article published on the source (website) via the link provided.
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