India approves amendments to insolvency and bankruptcy code

India approves amendments to insolvency and bankruptcy code

Finance Minister Arun Jaitley speaks at the Council on Foreign Relations in New York, June 18, 2015. REUTERS/Lucas Jackson/Files

India’s cabinet on Wednesday approved amendments to the Insolvency and Bankruptcy Code, the finance minister said, changes that are designed to prevent wilful defaulters from bidding for stressed assets.

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