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The CEO Magazine
A monthly magazine for business leaders and decision makers
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CROSS BORDER INSOLVENCY

CROSS BORDER INSOLVENCY: LEGAL IMPLICATIONS ON INDIAN CORPORATES

CROSS BORDER INSOLVENCY: LEGAL IMPLICATIONS ON INDIAN CORPORATES Cross border insolvency refers to a situation where the insolvent debtor has assets in more than one State or where some of the creditors of the debtor are not from the State where insolvency proceedings have taken place. The Insolvency and Bankruptcy Code was enacted in 2016 but it could not cater for cross border insolvency effectively. The Ministry of Corporate Affairs, Government of India, released a draft on cross border insolvency in October 2018 which…
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