Insolvency: Current Affairs, GK & News - 2020-2021

Insolvency and Bankruptcy (Second Amendment) passed in Rajya Sabha

Published: September 19, 2020

On September 19, 2020, the Rajya Sabha passed the Insolvency and Bankruptcy code (second Amendment) Bill 2020. According to the new amendment, fresh insolvency proceedings will not be started for the next six months considering Covid-19 pandemic. Why the suspension? Due to the covid-19 crisis the companies are facing disruptions. This has affected their interest payment ..

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Advisory Panel on Insolvency and Bankruptcy Board of India (IBBI) reconstituted

Published: June 15, 2020

The Government of India recently reconstituted the advisory panel on corporate insolvency resolution and liquidation process. Highlights The IBBI recently reconstituted advisory panel by inducting four members. The committee was constituted in 2017 and is chaired by a noted banker Uday Kotak. The new members include Crisil MD Ashu Suyash, former chief economist at NSE ..

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CII sets up COVID-19 Rehabilitation and Relief Fund

Published: March 26, 2020

The Confederation of Indian Industries has set up funds to assist rehabilitation of micro, small and medium enterprises. The fund is to be raised from the members of the confederation. Highlights The MSMEs are the most affected sectors due to the outbreak of Corona Virus. This is mainly because of the steps taken to contain ..

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Insolvency and Bankruptcy Code (amendment) bill passed in the Parliament

Published: March 12, 2020

On March 12, 2020, Insolvency and Bankruptcy (Amendment) bill, 2020 has been passed in the parliament. It was earlier passed by Lok Sabha and is now being passed by Rajya Sabha. Highlights The amendments were earlier introduced as ordinances. Now after the Parliament session begun the ordinance was introduced as bill. And the bill has ..

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Lok Sabha passes Insolvency and Bankruptcy Code (Second Amendment) Bill

Published: March 7, 2020

The Insolvency and Bankruptcy Code is a unified bankruptcy law of India which consolidated the existing framework into a single law for insolvency and bankruptcy. It came into effect in 2016. Recently, the Lok Sabha passed the Insolvency and Bankruptcy Code (Second Amendment) Bill, which seeks to protect the successful bidders of insolvent companies from risks ..

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