Diabytes
Bankruptcy and Insolvency Code News
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The bill seeks to replace an ordinance which was promulgated in November to prevent unscrupulous persons from misusing or vitiating the provisions of the Insolvency and Bankruptcy Code (IBC).
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The Lok Sabha on Thursday gave its nod to the Insolvency and Bankruptcy Code, 2016, that seeks to improve the ease of doing business in the country.
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Finance Minister Arun Jaitley on Wednesday said the Joint Parliament Standing Committee has cleared the Bankruptcy and Insolvency Code and is likely to be discussed in the current Budget Session of Parliament.
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A Parliamentary panel is expected to submit its report on the Bankruptcy and Insolvency Code on April 29 and government would push for the passage of the bill in the second leg of the Budget session, Economic Affairs Secretary Shaktikanta Das said today.
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