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Monday, 29 July 2019

Home / Business News: Latest News on Business / Financial News / India Business & World Business News / Stock Markets / Rajya Sabha passes IBC amendment, restoring primacy of lenders in insolvency cases

Rajya Sabha passes IBC amendment, restoring primacy of lenders in insolvency cases

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The Rajya Sabha on Monday approved amending the three-year-old Insolvency and Bankruptcy Code (IBC), providing clarity about preference to secured lenders over operational creditors and giving lenders explicit authority over distribution of proceeds of auction of loan defaulting companies.

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