Editor's Take | Govt may amend Section 29A of IBC

Moneycontrol News

To expedite resolution of cases and ensure banks recover loans from defaulting companies, the government could tweak Section 29A of the Insolvency & Bankruptcy Code (IBC).

The changes could include relaxation in the norms of "connected person" criteria. The government could also look into demands from promoters of defaulting companies to allow them to bid for assets, but this may come with riders.

Moneycontrol’s Uttaresh Venkateshwaran is in conversation with Corporate Bureau Chief Prince Mathews Thomas to find out what changes can be expected to IBC.