When a company faces insolvency proceedings, promoters are unable to raise funds for other businesses, and also they are not eligible to bid for any bankrupt business under Section 29A of the Bankruptcy Act. With effect from December 1, guarantors to any insolvent business too face bankruptcy proceedings.
from Latest Telecom News | Latest Telecom Industry News, Information and Update: ET Telecom : ETTelecom.com https://ift.tt/2RzhOVg
Sunday, December 8, 2019
Vodafone Idea woes: Aditya Birla Grp won’t face fund or bid curbs
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