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Centre may make further changes to Insolvency and Bankrutpcy Code: Govt

Insolvency and Bankruptcy Board of India (IBBI) is implementing the Code

Press Trust of India  |  New Delhi 

Insolvency Bankrutpcy
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The government is ready, if required, to make further changes to the Insolvency and Bankrutpcy Code, a senior official said on Friday.

While noting that the code is a game changer, Corporate Affairs Secretary Injeti Srinivas also sought to dispel certain "myths" regarding the law, including those provisions related to barring of from the bidding process for

The government is "more than willing to take any good suggestions and examine it and make further changes to the code, if required," he said here.

The code, which comes under the Corporate Affairs Ministry, has already been amended twice.

Minister of State for Corporate Affairs P P Chaudhary said the IBC is the first major step in a long journey to building a credit market in India that can support entrepreneurship.

They were speaking at a conference organised by the IBBI and the Indira Gandhi Institute of Development Research.

Insolvency and Board of India (IBBI) is implementing the Code.

IBBI Chairperson and other senior officials were also present.

First Published: Fri, August 03 2018. 12:48 IST