Changes and improvements is being done in the Insolvency and Bankruptcy Code (IBC), 2016, according to the Institute of Chartered Accountants of India, and an IBC 2.0 is anticipated to be released soon.
“IBC 2.0 will largely deal with the suggestions mentioned in the discussion paper that has come out from the Ministry of Corporate Affairs. We have to understand that it’s a new law that only happened six years ago, and therefore, certain board decisions and practical impediments, as well as other issues that come only after implementation, have to be streamlined, and hence the amendments are proposed,” said ICAI President Aniket S. Talati, addressing the ICAI’s press briefing on 4 June.
In accordance with the MCAs discussion paper, IB…
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