Ravi Shankar Prasad, Arun Jaitley on Wednesday. (Express Photo/Anil Sharma)
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The Union Cabinet approved the promulgation of an ordinance Wednesday to amend the Insolvency and Bankruptcy Code (IBC) to streamline the stressed-assets resolution process and effectively bar wilful defaulters from bidding for companies being put up for sale under the IBC. Sources said the ordinance was being sent to the President and his approval was expected very soon.
Briefing reporters on the decisions of the Cabinet, Finance Minister Arun J…
Read the full article at: http://indianexpress.com/article/business/insolvency-code-ordinance-being-changed-wilful-defaulters-cant-bid-for-stressed-assets-4950337/
