The Division of Business and Finance is dedicated to offering the community with well timed and correct monetary information and accounting companies in help of scholars, college and staff. The IBC is based on the premise that all enterprise failure is not fraud. The Ordinance by its very design goes against this principle. By disqualifying from the IBC bidding course of any defaulter who has had an NPA account for one year or more, or who has given a guarantee, it views business failure and fraud with the identical lens. A person might have faced antagonistic economic shocks comparable to a enterprise cycle downturn or a commodity worth shock on account of which the agency owned or managed by her may have been unable to repay a loan for greater than a year. That is different from a fraudulent or an unscrupulous promoter who could have been siphoning off assets from her personal agency and therefore has rendered it bancrupt by her personal actions. The Ordinance treats each these classes on par. In doing so and by disqualifying real bidders, it runs the chance of committing what is named a Type I error in statistical analysis.
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