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Why the insolvency process will get longer and more litigious
Rediff.com

Why the insolvency process will get longer and more litigious

Some experts says that the high net-worth requirement of Rs 50 crore for setting up an IU is a deterrent. The bankruptcy law reforms committee (BLRC) has visualised four pillars to make the insolvency process work efficiently: A private industry of insolvency professionals (IPs); adjudication infrastructure at the National Company Law Tribunal and the Debt Recovery Tribunal; a regulator, the Insolvency and Bankruptcy Board of India (IBBI); and a private industry of information utilities (IUs). Rediff.com, 2 months ago
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