Provisions for Faster Settlement of Insolvency Cases for Corporates

Provisions for Faster Settlement of Insolvency Cases for Corporates

The Minister for Corporate Affairs has said that the Companies Bill, 2009 which was introduced on 3rd August, 2009 has provisions for faster settlement of insolvency cases for corporates. Giving this information in written reply to a question in the Lok Sabha on the issue of faster settlement of insolvency cases, the Minister for Corporate Affairs, Shri Salman Khurshid said that the Bill has been drawn on the basis of the recommendations of Irani Committee and inputs received from various other stakeholders.