Slams canard, says ordinance levels thefield for applicants
New Delhi, November 27:
In defence of its recent insolvency ordinance, the government has asserted that the entire effort is aimed at disqualifying errant promoters while providing for a level-playing field for all prospective resolution applicants, including the promoters.
There is no merit in the contention in certain quarters that the ordinance is anti-promoter and designed to keep away all promoters from participating in the resolution process, official sources said.
Such a canard that it is anti-promoter is being spread to perpetuate the interests of a few entrenched promoters to regain control over their assets, which are undergoing insolve…
Read the full article at: http://www.thehindubusinessline.com/companies/only-errant-promoters-need-fear-insolvency-code-centre/article9974050.ece
