IBC
Govt invites comments on amendments on insolvency law
New Delhi/IBNS: The government on Thursday invited comments on various amendments proposed to the insolvency law.
The stakeholders have been asked to submit comments on provisions related to time period for approval of resolution plans as well as avoidable transactions and wrongful tradin.
The amendments have been proposed by the Insolvency Law Committee (ILC). The comments have been sought till January 13, 2022.
The deadline for submitting comments is January 13, 2022.
The Insolvency and Bankruptcy Code (IBC) was enforced in 2016 and has already undergone various amendments.
According to a communication, the comments have been sought with respect to proposed changes in enabling a swift admission process, streamline provisions pertaining to avoidable transactions and wrongful trading and norms relating to time period for approval of resolution plans.
Support Our Journalism
We cannot do without you.. your contribution supports unbiased journalism
IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.
