IBC amendment Bill provides for mandatory admission of insolvency application within 14 days once the company's default is established: FM.
IBC amendment Bill provides for mandatory admission of insolvency application within 14 days once the company's default is established: FM.
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Primary reason for IBC resolution delays is extensive litigation; Bill proposes penalties to prevent abuse of process: FM in Lok Sabha.
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Insolvency and Bankruptcy Code has led to better credit rating of companies; IBC never intended to be debt recovery tool: FM.