Govt open to amending IBC to address difficulties
The government is open to amending the Insolvency and Bankruptcy Code to resolve practical difficulties and redress grievances, Union Minister PP Chaudhary has said.Assuring that the challenges thrown up by some cases would get resolved, the minister said that the government is monitoring the implementation of the Code.
The Code became operational in December past year. “When we see it is not practically possible to implement certain provisions or practically on some count the Code is silent, then we can fill the gap by way of bringing some new amendment.
If we think some amendment is required, then we will consider it,” Chaudhary said
The Business Standard, New Delhi, 09th October 2017