Cabinet approves ordinance to amend the Insolvency and Bankruptcy Code, 2016
Posted On : June 01, 2018
The Union Cabinet has approved an ordinance, making further changes to the Insolvency and Bankruptcy Code, 2016 (“IBC”). It is understood that these changes have been proposed on the basis of recommendations by the Insolvency Law Committee (ILC) report issued on March 28, 2018. Some of the key recommendations of the ILC were –
The assent of the President of India is awaited on the ordinance, before the same is brought into force.