New Delhi: Draft rules for various aspects of the infrastructure and ecosystem required to manage insolvencies will be ready soon and shared in the public domain to seek comments, an official at the corporate affairs ministry said.
The government set up four working groups to look at various aspects of this and they are expected to submit their reports shortly.
The Insolvency and Bankruptcy Code is a significant economic reform in a country where businesses do not ever die. Yet, the ease of ending a business is as important an indication of a countrys business-friendliness as the ease of starting one.
The official, who asked not to be identified, did not mention a timeline for the draft rules to be shared but said we…
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