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| Photo Credit: Reuters
The story so far: The Enforcement Directorate (ED) has escalated scrutiny of alleged irregularities in proceedings under the Insolvency and Bankruptcy Code (IBC), instructing its zonal offices to examine cases involving disproportionately large haircuts through which promoters may have reacquired assets.
At its 36th Quarterly Conference of Zonal Officers in Bengaluru on September 14 and 15, ED Director Rahul Navin told officials to re-examine such alleged collusive resolution cases. The agency identified possible circumvention of Section 29A of the IBC, inflation of…