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Insolvency and Bankruptcy Code: Lenders, bidders split on assets valuation
Lenders and prospective bidders are having a serious difference of opinion on the valuation of toxic assets, to be auctioned under the modified insolvency law. While the lenders are insisting that resolution professionals get the enterprise valuation of these companies done to ensure sale negotiations begin from a higher point, the bidders say such firms should be sold at a “scrap” value in accordance with the provisions of the Insolvency and Bankruptcy Code (IBC). Read more
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