Cabinet clears final IBC amendments

The Union cabinet on Tuesday approved the final amendments to the Insolvency and Bankruptcy Code (IBC), for which legislation will be moved in the Parliament in the ongoing session, two persons familiar with the development said.

- Gireesh Chandra Prasad, Manas Pimpalkhare & Vijay C. Roy

Union minister Ashwini Vaishnaw addresses a press briefing on cabinet decisions in New Delhi on Tuesday.

(PT)

The Bill seeks to make limited modifications to the proposals by the Baijayant Panda-led Parliamentary select committee, which examined the previous version tabled in the monsoon session.

It is possible that the Bill may be moved for passage in Parliament this week, said one of the persons quoted above, speaking on the condition of anonymity.