New Delhi, Nov 22:
The Government will come out with an ordinance to make certain amendments to the Insolvency and Bankruptcy Code, Corporate Affairs Minister Arun Jaitley said today.
The code, which became operational in December last year, provides for a market-determined and time-bound insolvency resolution process. It is implemented by the Corporate Affairs Ministry.
The Cabinet today approved bringing in an ordinance to make some changes in the code, Jaitley told reporters here.
Details about the proposed changes could not be immediately ascertained. The move also comes at a time when there are concerns in certain quarters about various aspects of the law, including the possibility of promoters wresting …
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