The Insolvency and Bankruptcy Board has sought for special regulatory regime for Public Private Partnerships (PPP), said Dr. Mukulita Vijayawargiya, Whole Time Member, IBBI said at an ASSOCHAM event held in New Delhi recently.

"Regulatory institutions in need of urgent reforms and India in need of economic engineering," Dr Mukulita Vijayawargiya, Whole Time Member, Insolvency and Bankruptcy Board of India said while inaugurating an ASSOCHAM conference on ‘New India Confluence for Public & Private Enterprises' here at New Delhi.

Dr Mukulita Vijayawargiya, Whole Time Member, Insolvency and Bankruptcy Board of India said when asked about the personal guarantors, she said this ordnance is also an outcome of the present situation because there were resolutions applicants which themselves were defaulters. They were responsible for the situation of that company, corporate entity. If somebody is responsible for that thing and who is entitled that something, how can we again give back to that fellow? Is it ethically right or wrong...?

"I think there could be some modifications in their disability- disqualification because may be not fully but partially some modifications to improve the provisions," said Dr Vijayawargiya.

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