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IBC set to resume; relief for key worst-affected sectors on the cards

Top officials to meet this week to discuss the matter

Insolvency and Bankrutcy code IBC
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Apart from extending the suspension, some of the proposals are to have hybrid models by which tribunals can do a combination of virtual hearing and physical hearing

Shrimi Choudhary New Delhi
The central government is contemplating lifting the blanket suspension of the Insolvency and Bankruptcy Code (IBC) to accelerate resolving stressed assets. It may also consider giving relief to some of the worst-affected sectors. Fresh proceedings under the IBC are suspended till March 24.

“We are exploring two options — one, removing the suspension and allowing the resolution process in view of the rise in the number of fresh cases of default this fiscal year; second, bringing in some provisions to the IBC to exclusively deal with distressed sectors,” said a senior government official privy to the matter.

To discuss the

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