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IBBI working on cross-border insolvency norms: Sahoo
Why it is in news?
- The government is keen to introduce a globally accepted and well-recognised cross-border insolvency framework, which would also make India an attractive investment destination for foreign creditors, given the increased predictability and certainty of the insolvency process.
- The cross-border insolvency norms are being worked upon.
- The Insolvency and Bankruptcy Board of India (IBBI) is a nodal body that implements the Insolvency and Bankruptcy Code (IBC).
Source
The Hindu