No insolvency proceedings on defaults six months from March 25; govt promulgates IBC ordinance
Lenders will be unable to tug company defaulters to insolvency courtroom for defaults arising inside six months from March 25, 2020. Authorities has promulgated an ordinance amending the Insolvency and Chapter Code, which prohibits utility for initiation of insolvency decision course of towards a debtor throughout this era. The ordinance has been floated in view…
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