Insolvency and Bankruptcy Code likely to be tweaked for cross-border cases, says report
Updated : March 05, 2019 08:16 AM IST
The amendment is likely to get a cabinet nod soon and the ordinance will be based on the UNCITRAL model law for cross-border insolvency cases, the report said.
A cross-border insolvency law empowers foreign creditors get money lent to Indian corporate entities. Indian companies can also claim their dues from foreign companies, said the report.