 "insolvency")
The government will soon come up with detailed guidelines for regulators and tax authorities to protect the winning bidders in Insolvency and Bankruptcy Code (IBC) cases against the reopening of claims and threat to the assets acquired by them.
The Ministry of Corporate Affairs (MCA) has received several representations from companies such as JSW Steel and Tata Steel regarding issues that cropped up after the closure of the IBC process.
The ministry is also looking at the best course of action to ensure the assets of companies under probe are not attached.
“Once a company has gone through the IBC process, all claims
