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Supreme Court upholds Insolvency law in entirety

The Supreme Court today upheld the Insolvency and Bankruptcy code (IBC) law in its entirety. Under the law, promoters of bankrupt firms have been barred from bidding for insolvent companies. The apex court has rejected pleas seeking changes in IBC.  The IBC Amendment Act 2018, which replaced an earlier ordinance on Section 29A, debars loan defaulters from bidding for stressed assets. 

Read More at The Economic Times News date : 25 Jan 2019, Friday

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