Lok Sabha passes amendments to Insolvency and Bankruptcy Code
Updated : August 01, 2019 04:13 PM IST
Once the Corporate Insolvency Resolution Process (CIRP) begins, it has to be completed in 330 days, including litigation stages and judicial process, the minister said, citing proposed amendments.
Rajya Sabha has already passed the bill and with its passage in the lower house, the Insolvency and Bankruptcy Code is set to be amended.
As many as seven sections of the Code are to be amended.