Another amendment in bankrupt law

By Vkeel Team


It seems that the infallible weapon of the government, which was used to reduce the NPA, was not doing anything. When the Insolvency and Banking Code (IBC) was implemented a few months ago, it was believed that it will take the final solution to the problem of debt of Rs 9.5 lakh crore rupees.

But in six months it has become clear that there are many shortcomings in the present format of IBC, which can lead to more problems in the coming days. Therefore, the government has now formed an Insolvency Law Committee to suggest changes in the IBC, which will give its suggestions in two months. In such a case, it is a matter of concern that under the IBC, the process of selling assets of non-paying companies will be pending.

Law Firms In India


Disclaimer:

The information provided in the article is for general informational purposes only, and is not intended to constitute legal advice or to be relied upon as a substitute for legal advice. Furthermore, any information contained in the article is not guaranteed to be current, complete or accurate. If you require legal advice or representation, you should contact an attorney or law firm directly. We are not responsible for any damages resulting from any reliance on the content of this website.