Insolvency and Bankruptcy Law: Overseas companies turned insolvent? This is what India may do
The country should adopt the United Nations model law to deal with the insolvency cases involving overseas companies, a government-appointed panel has suggested in its report. The report of the Insolvency Law Committee (ILC) headed by Ministry of Corporate Affairs (MCA) secretary Injeti Srinivas was submitted to finance and corporate affairs minister Arun Jaitley on Monday.
the Insolvency Law Committee (ILC) headed by Ministry of Corporate Affairs (MCA) secretary Injeti Srinivas was submitted to finance and corporate affairs minister Arun Jaitley on Monday. Image Source: Reuters