Bankruptcy code: US, UK allow owners to bid, India doesn’t

ET looks at the laws in some of the countries that have fast-tracked bankruptcy resolution to see the differences and similarities with India’s insolvency regime.

By Atmadip Ray & Vinay Pandey, ET Bureau | Updated: Nov 25, 2017, 04.40 PM IST

Bankruptcy code: US, UK allow owners to bid, India doesn’t

India has tightened insolvency rules to effectively bar promoters of defaulting companies from bidding for their companies or assets during the resolution process, setting it apart from most other developed economies.

ET looks at the laws in some of the countries that have fast-tracked bankruptcy resolution to see the differences and similarities with India’s insolvency regime.