Changes in IBBI norms to prevent backdoor entry of ex-promoters in cos under liquidation: Experts

Under the amendments introduced to the liquidation process regulations, persons who were ineligible are now barred from being part of any compromise or arrangement at the stage of liquidation. Furthermore, a secured creditor who chooses to sell secured assets independently also cannot sell the same to a person who is ineligible under the IBC.

from News-Economic Times https://ift.tt/35KIZQj