Cabinet clears ordinance to further amend insolvency law

On December 12, the govt introduced a bill in the Lok Sabha to amend the Code. The bill, introduced in the Lok Sabha, seeks to remove bottlenecks and streamline the corporate insolvency resolution process, wherein successful bidders will be ring fenced from any risk of criminal proceedings for offences committed by previous promoters of companies concerned.

from Economy-News-Economic Times https://ift.tt/2roRuT3