The Insolvency and Bankruptcy Code (IBC) has provisions for individuals as well, but they are yet to be notified. In a move that is being seen as a precursor to notifying bankruptcy rules for individuals, the government is reportedly considering moving ahead with Fresh Start, a part of IBC that applies to low-income individuals who have small debts. Fresh Start envisages a simplified and fast-track procedure which provides relief from debts that are below a certain threshold. Neil Borate asks experts if the thresholds for Fresh Start are set too low, and whether or not the procedure will help small borrowers.
Aishwarya Satija, Research fellow at Vidhi Centre for Legal Policy
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