Employees of Videocon Industries Ltd. work at the company’s offices in Mumbai, India. (Photographer: Adeel Halim/Bloomberg News)
Procedural aspects of multiple insolvencies in a group may be consolidated under the Insolvency and Bankruptcy Code but substantial consolidation needs more deliberation, a committee, led by former Securities and Exchange Board of India Chairman UK Sinha, has proposed. The committee was set up by the Insolvency and Bankruptcy Board of India in January this year to propose a regulatory framework for group insolvencies.This was prompte...