Insolvency and Bankruptcy Code (Amendment) Bill passed in Rajya Sabha

Aditya AK July 30 2019
Insolvency and Bankruptcy Code (amendment) Bill

The Rajya Sabha yesterday passed the Insolvency and Bankruptcy Code (Amendment) Bill, 2019. The Bill was introduced in the Upper House on July 24.

Among other changes, the Insolvency and Bankruptcy Code (Amendment) Bill seeks to tweak provisions related to time limits, specifies minimum payouts to operational creditors under resolution plans, and specifies the manner in which the representative of a group of financial creditors should vote.

As per the Statement of Objects and Reasons, the Bill aims to . . .

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