Not just banks, your unpaid supplier of goods or services can now initiate bankruptcy proceedings

Indian banks are saddled with bad debt and as the banking industry goes about recovering about Rs 8 lakh crore in doubtful loans, the new Insolvency and Bankruptcy Code is expected to provide the much needed teeth to the financial institutions.

You can read more here: Not just banks, your unpaid supplier of goods or services can now initiate bankruptcy proceedings