IBC to be amended to protect new owners of bankrupt companies

The Cabinet is likely to approve relevant changes to the three-year-old Insolvency and Bankruptcy Code at the earliest. This will bring much-needed confidence to buyers of distressed assets, acquirers who were otherwise wary about the over-reach of the investigative authorities. Amendments to the IBC, which came into effect in December 2016, will require eventual parliamentary approval.

from Banking/Finance-Industry-Economic Times https://ift.tt/2LAfBFe