Diabytes
Insolvency and Bankruptcy Board News
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The revised regulations come at a time when a large number of flat buyers have been left in the lurch, especially in the National Capital Region (NCR), due to long delay in deliveries amid the developers citing fund crunch.
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The Lok Sabha on Thursday passed the Banking Regulation (Amendment) Bill, 2017, which empowers the Reserve Bank of India (RBI) to resolve stressed assets clogging the banking system.
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The Insolvency and Bankruptcy Board of India on Tuesday sought public comments on the draft regulations for voluntary liquidation.
Providing the first possible avenue to resolve insolvency in a market-determined and time-bound manner, the Insolvency and Bankruptcy Code will help improve ease of doing business as well as develop the debt market, says IBBI Chairperson M S Sahoo.
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