Written by Sunny Verma |
Updated: December 31, 2015 12:29 am
Looking back
Towards the end of this year, the government introduced the Insolvency and Bankruptcy Code in Parliament. It aims to free up banks resources for other productive uses, boost credit markets by providing for faster liquidation and help banks arrest their nonperforming assets. The legislation, referred to a 30-member joint parliamentary panel, proposes that corporate insolvency be resolved within 180 days, extendable by 90 more. Curren…
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