Lok Sabha passes bill to amend insolvency law without debate

Minister of State for Corporate Affairs Rao Inderjit Singh moved the Bill for consideration and passage amid the din

Company, firms, board of directors, IBC, insolvency, NPAs, loans

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The Bill was approved by the House without any discussion

Press Trust of India New Delhi

1 min read Last Updated : Jul 29 2021 | 12:58 AM IST

The Lok Sabha on Wednesday passed the IBC (amendment) Bill without debate, which, among other things, provides for a pre-packaged resolution process for stressed MSMEs.

Minister of State for Corporate Affairs Rao Inderjit Singh moved the Bill for consideration and passage amid the din. The Bill was approved by the House without any discussion, as Opposition members continued their protest over Pegasus snooping issue and three new farm laws.

Singh said the Insolvency and Bankruptcy Code (Amendment) Bill, 2021, will replace the Ordinance that was promulgated on April 4 as part of efforts to provide relief to MSMEs adversely impacted by the

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Topics : IBC Lok Sabha Insolvency and Bankruptcy Code IBC amendments

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