NEW DELHI: Finance minister Nirmala Sitharaman on Tuesday introduced amendments to the Insolvency and Bankruptcy Code (IBC), aimed at making the law more effective and speed up the process, while proposing an out-of-court mechanism to address genuine business failures, domestic group insolvency and cross-border insolvency frameworks.The bill, which has been in the pipeline for over a year, was referred to a select committee, which will submit its report in the next session of Parliament. “Once implemented, this will help ease the burden on judicial systems, promote ease of doing…
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