'Effective steps' on anvil to deal with frivolous bids under IBC, says official
"In some cases after one year or more after settlement has taken place, the resolution applicant has failed to implement the plan. What do we do with such resolution applicants?
Against this backdrop, Corporate Affairs Secretary Injeti Srinivas Tuesday said the government is looking at taking some steps to discourage people from making frivolous bids under the Code. Reuters