Joint committee cuts timeline from 60 to 45 days; suggests shield for employees Those filing for bankruptcy could find their assets in other countries assessed under Indian laws, if India implements the suggestions made by a parliamentary joint committee on the bankruptcy code. The joint committee on the insolvency and bankruptcy code has said since “ many corporate transactions and businesses today involve an international and crossborder element, the implications of crossborder insolvency cannot be ignored for too long.” The panel has suggested two new clauses and sub- clauses, which would require India to enter into agreements with foreign governments to enforce provisions of the code to debtors’ assets outside India as well. In its report, the panel said if a resolution professional or bankruptcy trustee decides that a debtor’s assets located abroad should be brought under the ambit of the law, then the adjudicating authority in the case should issue a letter of request to a cou