The ordinance passed by the government on Friday said that "no application shall ever be filed" for insolvency proceedings on default on or after March 25. It also has a provision to extend the ban on filing new cases up to one year.source https://economictimes.indiatimes.com/industry/banking/finance/banking/complete-ibc-suspension-for-defaults-may-hurt-creditors/articleshow/76248542.cms
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