Insolvency Law Committee plans to meet on October 15 to discuss new reforms for IBC – The Hindu BusinessLine

The new resolution mechanism for finance companies may apply only to limited set of entities. Deposit taking and systemically important NBFCs may be kept out

The government-appointed Insolvency Law Committee (ILC) will meet on October 15 to deliberate on various proposed reforms to the existing insolvency and bankruptcy code (IBC), including new concepts such as group insolvency, said a member of the panel.

“ILC will be meeting on October 15 to discuss the various reforms,” MS Sahoo, Chairperson, Insolvency and Bankruptcy Board of India (IBBI), and a member of ILC, told BusinessLine.

He was responding to a query on the next course of legislative action on the IBC front.

via Insolvency Law Committee plans to meet on October 15 to discuss new reforms for IBC – The Hindu BusinessLine