Keeping out wilful defaulters from bidding for stressed assets is not a “moral issue”, but a choice between certainty and uncertainty, IBBI Chairperson M S Sahoo has said.
His comments come against the backdrop of the government, through an ordinance last month, barring wilful defaulters from bidding for stressed assets under the Insolvency and Bankruptcy Code (IBC).
The government will be introducing a Bill to replace the ordinance this week in Parliament.
Asked whether barring wilful defaulters would narrow the universe of bidders for the stressed assets, the IBBI chief replied in the negative.
“If we keep undeserving people out of the system, it is not a moral issue,” Sahoo told PTI in an interview.
The Insolv…
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