Says a number of SMEs havent been getting bidders
Kolkata, January 25:
Promoters of small and medium enterprises (SMEs) should be allowed to bid for their companies against which insolvency proceedings have begun. A number of SMEs are going without bidders and the Centre allowing promoters of these enterprises to bid would be a positive step.
According to Mamta Binani, founder member of the All India Insolvency Professional Association (AIIPA), the association has already written to the Centre in this regard.
However, allowing promoters to bid for their own companies should come with reasonable restrictions so that the unscrupulous ones are kept away, she said.
There are quite a number of SMEs which do not have bidders. …