Execute Bankruptcy Law in Time Bound Manner: FM
Finance Minister Arun Jaitley on Tuesday directed senior officials of the ministries of finance and corporate affairs to take steps, including setting up of a board, for the implementation of Insolvency and Bankruptcy Code (IBC) 2016 in a time bound manner. “Implementation in a time bound manner is very crucial in order achieve the desired goals of Insolvency and Bankruptcy Code 2016,“ Jaitley told senior officials of both the ministries here. An immediate action is needed on key requirements for implementation of the IBC including setting up of Insolvency and Bankruptcy Board of India (IBBI), notifying Rules and Regulations relating to Insolvency Professionals (IPs), he added.
The Economics Times New Delhi,24th August 2016