IBC tweak challenges flagged



Many questions remain unanswered; govt should consult RBI, lenders and other stakeholders before going for ordinance, experts say. Just as financial and operational creditors can initiate the IBC process on a company, the code allows the corporate debtor to opt for self-insolvency. RBI is likely to insist that it should have the final say on any change in the definition of default in IBC in the context of the pandemic.



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