Jaitley dose for debtors

Megha Jain

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FM Arun Jaitley has warned companies against defaulting on loans, asking them either to pay up or possibly lose ownership. Talking about the Insolvency and Bankruptcy Code, Jaitley said it has reversed the debtor-creditor relationship, We've changed the DRTs (debt recovery tribunals) procedures. "The IBC's intent is not liquidation of assets, but to preserve their value, either through existing promoters or new ones."