Published in:
The Economic Times
Pubished on:
12 May 2016
The Rajya Sabha on Wednesday gave its assent to the new bankruptcy code, almost a week later after it was passed by the lower house of the Parliament, clearing the law that provides for speedy resolution of bankrupt businesses.
The bill seeks to bring a host of regulatory changes to build a robust and faster insolvency resolution mechanism besides setting up of an Insolvency and Bankruptcy Board of India.