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4. In section 25 of the principal Act, in sub-section (2), for clause (h), the following clause shall be substituted, namely:

"(h) invite prospective resolution applicants, who fulfil such criteria as may be laid down by him with the approval of committee of creditors, having regard to the complexity and scale of operations of the business of the corporate debtor and such other conditions as may be specified by the Board, to submit a resolution plan or plans.".

Insolvency and Bankruptcy Code (Amendment) Act, 2017 Back

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