• SENSEX
    NIFTY 50
Economy

Insolvency and Bankruptcy Code Amendment Bill passes: Here's how the amended bill looks like

Updated : July 31, 2018 07:23 PM IST

The Insolvency and Bankruptcy Code (Second Amendment) Bill was tabled in the Lok Sabha by the interim Finance Minister Piyush Goyal.
The Bill tabled treats home buyers as “financial creditors”, giving them a better say in the resolution plan of developers. The problem here is that the amendment still has to classify the rationale for allottees under a real estate project as financial creditors as the proposed amendment can be questioned.
The tabled Bill stated that the businesses with abundant financial resources can be allowed to bid for multiple stressed assets without being disqualified, of which the contrary is followed as of today according to Section 29A.
Insolvency and Bankruptcy Code Amendment Bill passes: Here's how the amended bill looks like
primo org
Have you signed up for Primo, our daily newsletter?
It has all the stories and data on the market, business, economy and tech that you need to know.
cnbc two logos
To keep watching CNBC-TV18, India's No. 1 English Business News Channel, call your Cable or DTH Operator and subscribe now for just Rs. 4 per month. You can also subscribe to CNBC-TV18 Prime HD for Re 1/- per month.Find out more

You May Also Like

Live TV