Govt to hold wider consultation for group, cross-border insolvency rules
Mint·3h ago·Neutral
What Happened
The Indian government will conduct wider consultations before implementing group and cross-border insolvency schemes under the amended Insolvency and Bankruptcy Code. These provisions, introduced in April 2024, form part of the code's most comprehensive overhaul since 2016. The government is consulting the United Nations to adapt global frameworks to India's requirements before finalizing rules.
Key Entities
Indian GovernmentInsolvency and Bankruptcy Code (IBC)United NationsGroup InsolvencyCross-border InsolvencyParliament