ISLAMABAD: The National Assembly has passed major amendments in the The Corporate Restructuring Companies Act 2016 to enable Corporate Restructuring Companies (CRCs) operate efficiently and extend financing facilities for carrying out the purposes of the CRC Act.
The Corporate Restructuring Companies (Amendment) Bill 2021 was approved in NAs session on June 10, including other 20 legislations.
Sources told Business Recorder here on Sunday that the Corporate Restructuring Companies Act, 2016 was promulgated to facilitate revival of distressed assets and companies. Under the CRC Act, SECP licenses Corporate Restructuring Companies that engage in business of acquiring and managing non-performing assets (NPAs) from financial institutions an…
Read the full article at: https://www.brecorder.com/news/40099868/corporate-restructuring-companies-act-2016-bill-to-facilitate-revival-of-distressed-assets-cos