Govt for stiff guardrails for out-of-court resolution in IBC

India’s proposed out-of-court debt resolution route will be open only to a narrow set of well-regulated financial creditors, two persons familiar with the discussions in the government said. The framework, now before Parliament as part of amendments to the Insolvency and Bankruptcy Code (IBC), promises a quicker, more flexible alternative to tribunal-led proceedings, which will also help reduce the backlog at the insolvency tribunal. Read more