Insolvency and Bankruptcy Code 2015 Current Affairs, GK & News

Lok Sabha passes Insolvency and Bankruptcy Code, 2015

May 6, 2016

The Lok Sabha has unanimously passed Insolvency and Bankruptcy Code, 2015 by a voice vote. The code seeks to ensure time-bound settlement of insolvency, faster turnaround of businesses and create a unified data base of serial defaulters. Highlights of the Code The Code creates time-bound processes for resolution of the insolvency of companies and individuals. ..

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