NEW DELHI: Government today came out with another set of draft rules, including for liquidation of insolvent corporate persons, under the Insolvency and Bankruptcy Code.
As part of implementing the Code, the government has already constituted the Insolvency and Bankruptcy Board of India (IBBI) while the draft norms will be finalised after taking into consideration views of the stakeholders.
Notified by the government in May, the Code seeks to consolidate and amend laws relating to reorganisation as well as insolvency resolution of corporate persons, partnership firms and individuals in a time-bound manner.
The latest set of draft regulations relate to liquidation of insolvent corporate persons, insolvency resolution process for corp…
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