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Bhargavi Zaveri & Shivangi Tyagi: Missing pieces in the Bankruptcy Code

The move to keep the entire financial services sector out of the Code is misplaced and must be revisited

Bhargavi Zaveri & Shivangi Tyagi 

Bhargavi Zaveri & Shivangi Tyagi The draft Insolvency and Bankruptcy Code (hereafter called the Code) has been projected as one of the biggest reforms proposed by the National Democratic Alliance government. A significant change is the promise of a consolidated legal framework for the bankruptcy of all entities. Today, the rules in India governing bankruptcy depend on whether the debtor is a company, an individual, an LLP (limited liability partnership) or a partnership firm. To this extent, the Code provides a clean break from the past. However, it leaves out an important sector of the Indian economy - the financial ...

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Bhargavi Zaveri & Shivangi Tyagi: Missing pieces in the Bankruptcy Code

The move to keep the entire financial services sector out of the Code is misplaced and must be revisited

The move to keep the entire financial services sector out of the Code is misplaced and must be revisited The draft Insolvency and Bankruptcy Code (hereafter called the Code) has been projected as one of the biggest reforms proposed by the National Democratic Alliance government. A significant change is the promise of a consolidated legal framework for the bankruptcy of all entities. Today, the rules in India governing bankruptcy depend on whether the debtor is a company, an individual, an LLP (limited liability partnership) or a partnership firm. To this extent, the Code provides a clean break from the past. However, it leaves out an important sector of the Indian economy - the financial ... image
Business Standard
177 22

Bhargavi Zaveri & Shivangi Tyagi: Missing pieces in the Bankruptcy Code

The move to keep the entire financial services sector out of the Code is misplaced and must be revisited

The draft Insolvency and Bankruptcy Code (hereafter called the Code) has been projected as one of the biggest reforms proposed by the National Democratic Alliance government. A significant change is the promise of a consolidated legal framework for the bankruptcy of all entities. Today, the rules in India governing bankruptcy depend on whether the debtor is a company, an individual, an LLP (limited liability partnership) or a partnership firm. To this extent, the Code provides a clean break from the past. However, it leaves out an important sector of the Indian economy - the financial ...

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Business Standard
177 22