Government To Halt New Insolvency Proceedings For A Year Amid COVID-19: Nirmala Sitharaman

Finance Minister Nirmala Sitharaman on Sunday suspended filing of new bankruptcy cases for one year, and said debts related to the coronavirus pandemic will not be treated as default under the insolvency law temporarily. The move came as the Finance Minister detailed the fifth and final set of measures under the government's "Atma Nirbhar Bharat" package to tackle the damage caused by the coronavirus (COVID-19) outbreak and the weeks...