Changes in IBC Law to ease business: Finance Minister’s Speech
By INSOL India - Editorial Team Posted On : June 01, 2020
There has been some announcements made by the Finanace Minister in the light of the Covid-19 situation. The government has tried to ease the business by bringing following announcements:
1. Section 240A of Insolvency and Bankruptcy Code, 2016 to be notified soon;
2. No fresh initiations on the basis of Covid-19 allowed for a year;
3. The reason of Lockdown or Covid-19 cannot be basis of default for any application in the NCLT.