M&As to increase under insolvency code, says IBBI chief M S Sahoo

Sahoo said that the IBC was one way to sort out the non-performing assets problem

Insolvency and Bankruptcy Board of India (IBBI) Chairperson M S Sahoo said on Saturday mergers and acquisitions might increase under the code governing the sale of assets of companies unable to repay debt.

The Insolvency and Bankruptcy Code (IBC) has been in the news since the Reserve Bank of India issued directions to banks to initiate the insolvency process for the top 12 non-performing accounts in the country. Sahoo, addressing an Assocham event, said rules for cross-border insolvency and bankruptcy were being worked out by the board. 

A number of ways are allowed for resolution under the insolvency process, one