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New guidelines for individual bankruptcy soon

New guidelines for individual bankruptcy soon

Monday, March 27, 2017, 3:56 PM

The Insolvency and Bankruptcy Board of India (IBBI), the newly established regulator to reorganize insolvency laws in the country, is working on guidelines for individuals who want to declare bankruptcy and will also allow voluntary liquidation by companies, chairperson Madhusudan Sahoo said. IBBI has also created a special entity called Insolvency Professional Entity to facilitate speedy recoveries of high-value loan defaults.
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