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The Insolvency and Bankruptcy Code (IBC) has so far played a significant role in enhancing India’s ease of doing business, but despite its successes, there are “persistent and systemic challenges” that undermine its optimal performance, the Parliamentary Standing Committee on Finance has said.
In its ‘Review of Working of Insolvency and Bankruptcy Code and Emerging Issues’ report submitted to Parliament on Tuesday, the Standing Committee on Finance said that the efficacy of the IBC can be seen in the fact that a total of 1,194 companies have…