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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.
Insolvency and Bankruptcy Code likely to be tweaked for cross-border cases, says report

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