Published on Wed, Nov 04,2015 | 23:06, Updated at Wed, Nov 04 at 23:06Source : Moneycontrol.com
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Following is the Summary of the Recommendations of the Bankruptcy Law Reforms Committee (BLRC)
The Report of the BLRC is in two parts:
i. Rationale and Design/Recommendations;
ii. A comprehensive draft Insolvency and Bankruptcy Bill covering all entities.
The draft Bill has consolidated the existing laws relating to insolvency of companies, limited liability entities (including limited liability partnerships and other entities with limited liability), unlimited liability partnerships and individuals which are presently scattered in a number of legislations, into a singl…
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