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'Effective steps' on anvil to deal with frivolous bids under IBC, says official

Updated : February 26, 2019 02:23 PM IST

The Insolvency and Bankruptcy Code (IBC) mainly seeks to address the issue of stressed assets in a time-bound manner. However, there have been instances where entities have failed to implement the approved resolution plans.
Against this backdrop, Corporate Affairs Secretary Injeti Srinivas Tuesday said the government is looking at taking some steps to discourage people from making frivolous bids under the Code.
'Effective steps' on anvil to deal with frivolous bids under IBC, says official

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