INSUBCONTINENT EXCLUSIVE:
Mumbai: Failure to repay home loans might drag future defaulters to dedicated bankruptcy courts as New Delhi is seeking to put in place a
broad framework on individual insolvency two years after it revamped such laws for stressed companies.
Three sets of entities will fall
under the individual insolvency code
They would include the personal guarantor to corporate debtors, proprietary firms and other individual borrowers, MS Sahoo, chairman of the
Sahoo.
According to a market source ET spoke with, the insolvency rules to recover bad loans from individuals could only come after the
graduate 40 insolvency professionals annually
ET had reported on January 15 about this programme.
The Indian Institute of Corporate Affairs (IICA) has launched the Graduate Insolvency
working group linked to the programme.
