NEW DELHI: The government is considering a proposal to extend the time limit for the bankruptcy resolution process by up to 60 days following recent changes in the Insolvency and Bankruptcy Code (IBC) that have led to a reset in the process in many cases, said officials aware of the matter.
This could mean more time for the 12 big cases undergoing resolution that were on the first list sent by the Reserve Bank of India (RBI) to banks in June, calling on them to be referred to the National Company Law Tribunal (NCLT). These companies account for about 25% of all non-performing loans.
Apart from this, the government has also reassured investors over concerns such as forest clearances and stamp duty exemptions, telling them thes…
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