With the amendment, firms like EY and Deloitte can work as resolution professionals instead of only their partners enrolling as insolvency professionals.
With assets depreciating over time, it will lead to large haircuts for lenders and creditors, say experts
Home buyers would be able to invoke Section 7 of the IBC against errant developers.
'The hour is very late, and the choice between triumph and tragedy knocks at our door,' says Ajay Shah.
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