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Suspension of IBC proceedings may not be extended beyond March 24

Centre likely to review situation after a few months; another extension is economically and legally untenable, say officials

Topics
IBC proceeding | Insolvency and Bankruptcy Code | debt restructuring scheme

Ruchika Chitravanshi  |  New Delhi 



ibc, help, lenders, payments, banks, loans, NPA
The Budget session of Parliament will resume on Monday and continue till April 8. The government cannot issue an Ordinance since the suspension is lapsing while the Parliament is in session

With just about a fortnight left for the suspension on fresh corporate insolvency cases to end, government sources have indicated that another extension is unlikely. An extension may not be economically desirable as it hampers the restructuring prospects for stressed companies, according to senior officials. Also, it would be a challenge to amend the law in such a short time.

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First Published: Mon, March 08 2021. 06:10 IST

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