Constituting a 14-member panel to suggest changes to a law little more than a year after its promulgation reflected the governments keenness to correct mistakes in the original legislation, while also shining the spotlight on an impatient New Delhi that seemed unwilling to give more time.
Even as some of the recommendations rush through the system to become law, the practitioners and lenders for whom the law was made believe these changes could engender more issues than helping settle some of the conflicts.
Inconsistencies, dilution in the spirit of the law, sounding more politically right than confronting the reality and bringing in constituencies that do not figure in the bankruptcy laws of mature countries appear to be hallmarks o…
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