Highlighting the outcomes of the insolvency law that came into force in 2016, Finance Minister Nirmala Sitharaman on Thursday criticised the Congress, saying the party always shied away from taking progressive steps for India's growth and encouraged only regressive policies.
"Despite the crying need for enacting insolvency laws, the UPA regime consciously sought to reward its cronies at the cost of the banks and operational creditors who had to run from pillar to post for recovering their dues," she said.
The Insolvency and Bankruptcy Code (IBC) provides for a market-linked and timebound resolution of stressed assets.
Sitharaman, a senior BJP leader, said by laying down governance norms for companies in distress, the IBC has taken corporate governance to new heights in the country.
Bu hikaye Millennium Post Delhi dergisinin May 31, 2024 sayısından alınmıştır.
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Bu hikaye Millennium Post Delhi dergisinin May 31, 2024 sayısından alınmıştır.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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