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IBC a game-changer, but delays a concern: Srei Infra official

Press Trust of India  |  Kolkata 

The and Code (IBC) is a game changer, but delay in decision-making is a cause for concern, Bhutoria said on Saturday.

Bhutoria, who is also CII sub-committee chairman, was speaking at a conference on 'Legal Dimension of Infrastructure Development' here.

"The process, which was supposed to ensure quick resolution is getting entangled in the legal system, leading to delay in decision making. This is threatening the viability of many infrastructure projects in our country," he said.

"The Indian judiciary should facilitate infrastructure development by providing speedy resolutions. Our country's economic progress hinges on this," Bhutoria said.

Justice said the concept of making mediation mandatory before proceeding to litigations has become an important alternative tool, for settling disputes for infrastructure projects.

Tax expert talked about issues relating to ambiguity of taxation in the

"The concept of single tax is not applicable in the sector. Buyers have to shell out the stamp duty, and no credit on input tax is available," he added.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Sat, May 11 2019. 19:21 IST