KOLKATA: A detailed framework for sale of a corporate debtor as going concern and sale of business of a corporate debtor as going concern is being worked out.
Going concern principle is the assumption that an entity will remain in business for the foreseeable future after a resolution. “We will make all efforts to save a viable company. For instance, if a company is actually viable but a wrong decision has been made, it will be given another opportunity rectify the mistake,” said M S Sahoo, chairperson of the Insolvency and Bankruptcy Board of India.
Source- Business Standard.