Comprehensive Bankruptcy Code for Ease of Doing Business

Shri Jaitley said that Bankruptcy law reform that brings about legal certainty and speed, has been identified as a key priority for improving the ease of doing business. SICA (Sick Industrial Companies Act) and BIFR (Bureau of Industrial and Financial Reconstruction) have failed in achieving these objectives. We will bring a comprehensive Bankruptcy Code in fiscal 2015-16, that will meet global standards and provide necessary judicial capacity.

Source : Equity Bulls

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