EMI N BHARI SHAKANAR NE MADAD KARTO KAYDO AAVSHE.
The government is going to prepare a process of declaring individual people to be the ones who will help them get out of this situation instead of trapping them in the chaos of economic crisis. This new rule provides easy guidance for those who can not pay the amount in time. They are not forced to give money to the bank.
The purpose of this process is to make the process easier because new rules will be from farmers and car shop to middle class salaried workers who can not deposit money on time because they are not employed.
Explaining this, a major social stigma has been associated with this, managing partner and head of insolvency, Sumant Batra, of Secured Transactions and Correctional Law Practices in Law Firm, Kesar Das B & Associates. People should be given the opportunity to bring their lives back in the right direction. The rules have been made 100 years before Indictive insolvency, but it has not been used sincerely for decades. Additional cases come to district joints. However, the bank is in the direction of the debt recovery tribunals under the Securities and Reconstruction of Financial Assets and Enforcement of Security Interest Act, which is now intended to generate interest.
Last year, the IBS passed in Parliament was decided to provide the provision for the payment of dues. However, the proceedings have been restricted to corporate sector and startups. The Company Affairs Ministry and the Insolvency and Bankers Board of India have started discussions on creating new rules for the help of inductees and partnership firms. There are several aspects of the working group which include counseling to make inevitable, such as in Singapore. . Similarly, making the reach of the judiciary easier is equally important. According to the information available, we need a proper frame work that will help people who are already in crisis. It also has to work on state related laws.
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