Insolvency and Bankruptcy Code

Liquidation under bankruptcy code a long and tedious journey

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“For instance, in some cases, while the compound of the factory and plant and equipment belongs to the company, a chunky parcel of land inside the premises belongs to the promoter or his family members and therefore cannot be attached under IBC, making the whole asset less attractive to the buyer who wants the entire premises,"

Ashish Chhawchharia
Partner – Restructuring services, Grant Thornton Advisory Private Limited

This article appeared in Live Mint on 26th December, 2018.