Finance Minister announces IBC changes to curb pre-bankruptcy abuse
after close1 source ↓written by the desknot a recommendation
- for fraudulent claims
- ₹1 lakh to ₹1 crore
Finance Minister Nirmala Sitharaman unveiled changes to the Insolvency and Bankruptcy Code (IBC) aimed at preventing pre-bankruptcy abuse. Key measures include extending scrutiny of transactions to two years prior to insolvency filings and imposing fines of ₹1 lakh to ₹1 crore for fraudulent claims. These reforms are designed to expedite assistance for stressed companies and protect creditors' interests.
Not investment advice. For informational purposes only.