India Considers Bankruptcy Law Revamp as Cases Drag On
- Courts took an average 821 days to approve resolution plans
- Changes come years after previous overhaul of bankruptcy law
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The Indian government is considering changes to its bankruptcy laws, including streamlining court processes, amid growing concerns over lengthy proceedings and low recovery rates.
The Insolvency and Bankruptcy Board of India is finalizing a set of proposals aimed at speeding up resolution. Public consultation is set to end Tuesday, though the deadline may be extended.