New Delhi: Officials of Finance and Corporate Affairs ministries today discussed an action plan
for implementation of the insolvency and bankruptcy law to make debt recovery process more effective.
The Insolvency and Bankruptcy Code, 2016 — notified by the government in May — 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.
Representational image. AFP
“Discussed action plan for operationalisation of new bankruptcy law with Secretaries of Corporate Affairs and
Financial Services. Action underway,” Economic Affairs Secretary Shaktikanta Das said in a tweet.
The Code was approved by Parliament as well as notified by t…
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