Finance Minister proposes IBC amendments for faster resolutions
pre-market1 source ↓written by the desknot a recommendation
- which has reached
- 764 days
Finance Minister Nirmala Sitharaman introduced a bill in Lok Sabha to amend the Insolvency and Bankruptcy Code. The proposed changes aim to establish a creditor-initiated framework and enhance out-of-court arrangements, targeting a reduction in the average resolution time, which has reached 764 days. This move could significantly impact the banking and corporate sectors by streamlining insolvency processes.
Not investment advice. For informational purposes only.