IBC amendment Bill cleared in LS

Tribune News Service

New Delhi, July 28

The Lok Sabha on Wednesday passed the IBC amendment Bill, which among other things provide for a pre-packaged resolution process for stressed MSMEs.

The Insolvency and Bankruptcy Code (Amendment) Bill, 2021, will replace the ordinance that was promulgated on April 4 as part of efforts to provide relief to MSMEs adversely impacted by the Covid pandemic.