Business Standard

Barely a week before the deadline, IBC resumption hangs in balance

The official said that while on the one hand green shoots were visible in the economy and the stock market was booming, on the other things were not moving under IBC

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The IBC law empowers the government to issue a notification to extend the suspension for a period not exceeding one year, which means that it could be extended up to March 24, 2021

Ruchika Chitravanshi New Delhi
Barely a week left for the expiry of the suspension of bankruptcy proceedings against companies, the government is still undecided whether to extend the suspension further or not because “arguments on both sides are strong”, a senior government official told Business Standard

The official said that while on the one hand green shoots were visible in the economy and the stock market was booming, on the other things were not moving under the Insolvency and Bankruptcy Code (IBC). 

“Both are valid arguments. A decision has not been taken yet...But there is a deadline and the finance minister will take the

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First Published: Dec 18 2020 | 6:10 AM IST

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