The Union Finance Minster Shri Arun Jaitley during his Budget Speech of 2014-15 announced that an entrepreneur friendly legal bankruptcy framework would be developed for SMEs to enable easy exit.

            Pursuant to the above announcement, a Committee was set-up under Shri TK Viswanathan, former Secretary General, Lok Sabha and former Union Law Secretary, on 22.8.2014 to study the corporate bankruptcy legal framework in India and submit a report. 

            The Committee has submitted an Interim Report, which is placed on the website of the Ministry of Finance at ><.

            Comments/suggestions on the recommendations contained in the Interim Report may be sent to Director (FSLRC), Ministry of Finance, Deptt of Economic Affairs, Room No 68-A, North Block, New Delhi 110001, or via email at  latest by 20th February 2015.

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