India Said to Mull Easing Bankruptcy Deadline as Lawsuits Mount
India may allow more time for the restructuring plans of defaulting companies to be approved, according to people with knowledge of the matter, as a slew of lawsuits from owners, lenders and bidders slows the insolvency process and tests a new bankruptcy law. The rules mandate that a bad-loan resolution plan must be agreed upon within 270 days, failing which they require liquidation of the company’s assets. A panel set up to recommend ways to ease implementation of the law is proposing that the timeline be eased on a case-by-case basis at the discretion of the National Company Law Tribunal, the people said, asking not to be identified as they are not authorized to speak publicly.India’s fledgling insolvency process has come under increased .....