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Mumbai: The Insolvency and Bankruptcy Board of India (IBBI) on Friday notified the final norms for fast-track insolvency resolution at small companies.
The resolution process for such firms would be completed within 90 days, against 180 days for large firms. The timeline would be extendable by 45 days if the National Company Law Tribunal (NCLT) approves it.
The fast-track mechanism, in line with the draft norms released on 2…
Read the full article at: http://www.livemint.com/Politics/e1CF9RwliSeRSKfLIZmEmO/Bankruptcy-Board-notifies-norms-for-fasttrack-insolvency-re.html
