Insolvency and Bankruptcy Code (Amendment) Bill Current Affairs, GK & News

Insolvency and Bankruptcy Code Amendment Ordinance, 2021

The President of India, Shri Ram Nath Kovind recently promulgated the Insolvency and Bankruptcy Code (Amendment) Ordinance, 2021. The ordinance will allow pre-packaged insolvency resolution process for MSMEs. The Pre-packaged Insolvency Resolution Process is called PIRP. About the Ordinance The ordinance introduces a pre-packaged insolvency resolution process for corporate persons classified as MSMEs under the ..

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Cabinet approves Insolvency and Bankruptcy Code (Second Amendment) Bill, 2019

Union Cabinet has approved certain amendments in Insolvency and Bankruptcy Code, 2016 (code), through Insolvency and Bankruptcy Code (Second Amendment) Bill, 2019. The amendments aim to remove certain difficulties being faced during insolvency resolution process to realise objects of code, protect corporate debtors, prevent ill-thought-out triggering of bankruptcy proceedings and to further ease doing of ..

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Lok Sabha passes Insolvency and Bankruptcy Code (Amendment) Bill, 2018

Lok Sabha has passed Insolvency and Bankruptcy Code (Amendment) Bill, 2018 to bring relief to the home buyers and Micro, Small and Medium Enterprises (MSMEs). The Bill replaces ordinance promulgated in this regard and amends the Insolvency and Bankruptcy Code, 2016. Background Insolvency and Bankruptcy Code (IBC), 2016 provides time-bound process to resolution of insolvency ..

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Parliament passes Insolvency and Bankruptcy Code Amendment Bill, 2017

Parliament has passed Insolvency and Bankruptcy Code (Amendment) Bill, 2017 after it was passed by both the houses. The Bill amends Insolvency and Bankruptcy Code (IBC), 2016, and replaces Ordinance promulgated in November 2017 to pave way for tightening loopholes in existing code and make resolution process more effective. Background The IBC was enacted by ..

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Lok Sabha passes Insolvency & Bankruptcy Code Amendment Bill, 2017

The Lok Sabha has passed the Insolvency and Bankruptcy Code (Amendment) Bill 2017 to pave the way for tightening loopholes in existing code and to make resolution process more effective. The Bill amends the Insolvency and Bankruptcy Code (IBC), 2016, and replaces an Ordinance promulgated in November 2017. Background The IBC was enacted in 2016 ..

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