NEW DELHI: Union Minister Arun Jaitley today said there are a lot of expectations from the new insolvency mechanism and expressed confidence that it would deliver the desired results in the years to come.
The Insolvency and Bankruptcy Board of India (IBBI) has been set up under the Insolvency and Bankruptcy Code that 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 Insolvency and Bankruptcy Board of India (IBBI) has also notified three sets of regulations.
Jaitley, who is in charge of both Finance and Corporate Affairs ministries, said the present government has taken a new initiative by setting-up a mod…
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