Less wiggle room for promoters
The Insolvency and Bankruptcy Code has the required legal weaponry
Corporate ownership in India is predominantly concentrated in the hands of domestic individuals and promoter groups or the State. Such presence of owner-managers is a situation unique to developing economies such as India.The promoters are used to having complete control over the operations of the corporate since, till the advent of the Insolvency and Bankruptcy Code, 2016 (Code), the law on Insol...
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