Bill Soon To Tackle Bankruptcy In Financial Sector: Shaktikanta Das

A bill on addressing bankruptcy issues in the financial sector is ready and is likely to be introduced in Parliament soon, Economic Affairs Secretary Shaktikanta Das said on Thursday. While the Insolvency and Bankruptcy law that has been enacted deals with the corporate sector, LLPs and partnership firms, there is another world of financial firms like the banks, the mutual funds or the non banking finance companies, he said. The government has undertaken very extensive consultation and the bill is ready, and it is ready to be introduced," he said.

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