Government proposes framework for cross-border insolvency; Wants comment by December 15

The government is preparing to come up with a cross-border insolvency resolution framework based on the UNCITRAL model law and proposes to make it applicable for both corporate debtors as well as personal guarantors for such debtors. The Ministry of Corporate Affairs, which enforces the Insolvency and Bankruptcy Code (IBC), has sought comments on the … Read more