Provisions of IBC to be rechecked said Uday Kotak

The Government needs to re-look certain provisions of the Insolvency and Bankruptcy Code (IBC) as a situation might emerge where there is only one buyer for a stressed asset

Insolvency Resolution by Operational Creditor (Section 8)

An operational creditor as defined under s 5(20) of the Insolvency and Bankruptcy Code as a person to whom an operational debt is owed and includes any person to whom such debt has been legally assigned or transferred