 "insolvency, bankruptcy, ibc")
The government Wednesday cleared seven amendments to the insolvency law that seek to put in place a 330-day deadline for corporate resolution process, including litigation and other judicial processes, as well as make resolution plan binding on all stakeholders.
Experts said the changes would help in clearing various road blocks for resolution process and smoothen the process as well as save time. The Insolvency and Bankruptcy Code (IBC) has been amended twice so far.
As per the changes cleared by the Cabinet on Wednesday, the resolution plan would be binding on all stakeholders including the central government, any state government or local
