Government ready to make more changes to IBC, if necessary
The code, which comes under the Corporate Affairs Ministry, has already been amended twice.
The government is ready, if required, to make further changes to the Insolvency and Bankruptcy Code, a senior official said today.
While noting that the code is a game changer, Corporate Affairs Secretary Injeti Srinivas also sought to dispel certain "myths" regarding the law, including those provisions related to barring of wilful defaulters from the bidding process for stressed assets.
They were speaking at a conference organized by the IBBI and the Indira Gandhi Institute of Development Research here.
Insolvency and Bankruptcy Board of India (IBBI) is implementing the Code.
IBBI Chairperson M S Sahoo and other senior officials were also present.
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