NAREDCO writes to finance ministry for suspension of IBC
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Synopsis
NAREDCO as a representative body of real estate developers had taken up the matter with the Finance Ministry, seeking adequate relief measures so as to revive the economy as a whole and real estate sector in particular.
Agencies
Large number of employees and others associated with construction activities became COVID positive and lost their lives recently.
The National Real Estate Development Council (NAREDCO) has requested the Ministry of Finance and Corporate Affairs for suspension of IBC provisions for one year to protect the corporate entities considering the unprecedented second wave of COVID19.