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Economy

Govt brings IBC amendment ordinance; experts term some changes "excessive"

Updated : June 06, 2020 11:35 AM IST

While Section 7 of IBC enables financial creditors to file for insolvency against a corporate debtor, Section 9 provides for application of insolvency by an operational creditor.
Cases under RBI’s June 7 circular for instance, where the 180 day timeline ended in January, can still be taken to the bankruptcy court.

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