Corporate insolvency resolution process (CIRP) in India will get a boost with SEBI now amending its ‘Takeover Code’ to remove capital infusion hurdles in companies with approved resolution plans under the Insolvency and Bankruptcy Code (IBC). The latest change will enable acquirers of shares under approved resolution plan to go beyond the maximum permissible non-public shareholding, that is, 75 per cent. Sumit Naib shares his views on SEBI moves to ease corporate insolvency resolution process for Hindu Business Line- Front page/First story.
SEBI moves to ease corporate insolvency resolution process – Sumit Naib
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