COVID-19 Related Debts Of Companies Won't Be Considered Default: Centre

PUBLISHED ON: May 17, 2020 | Duration: 2 min, 12 sec

  
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The government on Sunday announced that debts related to coronavirus pandemic not to be included in default category under Insolvency and Bankruptcy Code (IBC) for one year. Besides, it was also announced that an ordinance will be passed to ensure that no fresh insolvency proceedings are initiated for up to one year, depending upon the pandemic situation.
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