On July 17, 2019, the Cabinet Ministers of India approved seven amendments to the Insolvency and Bankruptcy Code (IBC). One of the major amendments now mandates a 330-day time limit for resolution, including litigation. This new amendment will also impact the ongoing Essar Steel case.
Tarun Bhatia, Managing Director and Head of South Asia at Kroll, a division of Duff & Phelps, provided his perspective on these amendments in a The Hindu BusinessLine article.
With these amendments in place, a timely resolution is ensured, which was “one of the key benefits” of the IBC when it was passed in 2016.
Read the full article here.
