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India pushes for inclusive insolvency law

Government aims to extend process to small businesses and individuals

MUMBAI -- India's plan to beef up its insolvency and bankrupcty law to tackle mounting bad debts has won initial praise from analysts.

The government invited public comment earlier this week on draft rules extending the insolvency resolution processes to individuals and small companies. The Insolvency and Bankruptcy Code introduced in late 2016 currently only covers corporate defaults.

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