15 Oct 2018 06:53am IST
Insolvency and Bankruptcy Code 2016 (IBC) is one of the much needed biggest economic reforms speedily rolled-out and being implemented in India.
This is a one-stop solution which addresses all insolvencies in a time-bound and economically viable manner. This law has significantly helped India in achieving the historic 30-spot jump in the ease of doing business rankings.
Recent press reports of Vedanta acquiring bankrupt Electrosteel Steels, which made a loan default of Rs 10,273 crore, for Rs 5,320 crore under the IBC. Last month, Tata Steel bought bankrupt Bhushan Steel for Rs 35,500 crore. Bh…
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