Parliament panel suggests review of bankruptcy code2 min read . Updated: 04 Aug 2021, 06:26 AM IST
The standing committee flagged in the report that haircuts taken by lenders are as much as 95% and more than 71% of the cases are pending for more than 180 days. These point to a deviation from the original objectives of the Code as intended by the Parliament
NEW DELHI : Delays in resolution, low recovery rates, and rising liquidation cases point to the need to review the Insolvency and Bankruptcy Code (IBC), a parliament panel suggested, arguing that the law has deviated from its aim of offering a quick resolution path to stressed companies.
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