IBC to be amended to protect new owners of bankrupt companies - Business News, Finance News, Share Market News - Market trendz

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Monday, 9 December 2019

IBC to be amended to protect new owners of bankrupt companies

The Cabinet is likely to approve relevant changes to the three-year-old Insolvency and Bankruptcy Code at the earliest. This will bring much-needed confidence to buyers of distressed assets, acquirers who were otherwise wary about the over-reach of the investigative authorities. Amendments to the IBC, which came into effect in December 2016, will require eventual parliamentary approval.

from Banking/Finance-Industry-Economic Times
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