 "Insolvency and Bankrutcy code IBC")
The central government is contemplating lifting the blanket suspension of the Insolvency and Bankruptcy Code (IBC) to accelerate resolving stressed assets. It may also consider giving relief to some of the worst-affected sectors. Fresh proceedings under the IBC are suspended till March 24.
“We are exploring two options — one, removing the suspension and allowing the resolution process in view of the rise in the number of fresh cases of default this fiscal year; second, bringing in some provisions to the IBC to exclusively deal with distressed sectors,” said a senior government official privy to the matter.
To discuss the
