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Bankruptcy resolutions expected to soar after Budget spells relief for RPs

By Beena Parmar

  • 03 Feb 2023
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Bankruptcy resolutions expected to soar after Budget spells relief for RPs
Credit: Thinkstock

Liquidators in India, who are entrusted with winding up bankrupt companies, will no longer be prosecuted for failing to comply with income tax (IT) regulations. They will only have to meet provisions under the insolvency law, since the government has decriminalized liquidators from meeting select provisions under the IT Act. The ......

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