Lok Sabha passes Insolvency and Bankruptcy Code (Second Amendment) Bill, 2018

The Insolvency and Bankruptcy Code (Amendment) Act 2021

The Bill provides significant relief to home buyers by recognizing their status as financial creditors. The voting threshold for key decision has been proposed to be reduced to 66% from earlier threshold of 75 percent, a move that will help speed up the resolution process. Other changes include non-applicability of moratorium period to enforcement of guarantee. Once the Bill is cleared from Rajya Sabha it shall replace the ordinance promulgated by Hon’ble President on June 06, 2018.


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