Steps Needed To Keep Perilous Bids In IBC Process At Bay: VG Kannan, IBA
  • WebDesk BTVI
  • Jul 18 2019

The government on Wednesday cleared seven amendments to the insolvency law that seeks to put in place a 330-day deadline for corporate resolution process. VG Kannan, CEO of Indian Banks' Association (IBA) said that the 330-day limit will put a cap on time taken for resolution process. He also hopes that the Supreme Court will give a fair verdict on distribution of proceeds during IBC process. According to him, steps need to be taken to exclude perilous bids from the IBC process.