Morningstar

Lok Sabha Approves Insolvency and Bankruptcy Code Amendment Bill to Expedite Bankruptcy Processes

New Delhi, March 30: The Lok Sabha has approved the Insolvency and Bankruptcy Code (Amendment) Bill on Monday. This legislation aims to expedite the resolution of cases involving companies undergoing bankruptcy. The bill establishes a mandatory 14-day timeframe for accepting bankruptcy applications once a company is declared in default. Finance Minister Nirmala Sitharaman stated that ... Read more Lok Sabha Approves Insolvency and Bankruptcy Code Amendment Bill to Expedite Bankruptcy Processes