BREAKING NEWS
Congress to discuss candidates for Amethi, Raebareli seats on Saturday
Lok Sabha 2024: Tribal hamlet of Banjarumale in Belthangady records 100% voter turnout
Lok Sabha Polls 2024: Congress suspends Surat candidate Kumbhani, whose nomination form was rejected
Yuvraj identifies Surya, Bumrah as key to India’s prospects in T20 World Cup
6 people killed as wedding pandal catches fire in Bihar’s Darbhanga
Frustration driving CM Siddaramaiah to speak against PM: Union Minister Shobha Karandlaje
LS polls 2024: Nearly 13% voter turnout in first 2 hours of polling in Udupi-Chikmagalur Constituency
Don’t be swayed by diversionary tactics, come out and vote to protect democracy: Kharge to voters
Mangaluru: Minor scuffle outside polling station at Capitanio
My family faces threat from strangers who filmed inside my house: Neha Hiremath’s father
Rahul Gandhi to address two public meetings in Karnataka today
LS Elections 2024: Brisk voting in Udupi & Dakshina Kannada; EVM snag delays polling in some booths
IPL 2024: I’ll sleep better, says Faf du Plessis
IT sleuths threatening raided leaders to claim money belongs to me, Cong: DK Shivakumar
Parliament security breach: Court grants Delhi Police additional time to complete probe
RS passes amendment in Insolvency and Bankruptcy Code
PTI, Sep 19, 2020, 12:06 PM IST
New Delhi: The Rajya Sabha on Saturday passed the Insolvency and Bankruptcy Code (Second Amendment) Bill, 2020, whereby fresh insolvency proceedings will not be initiated for at least six months starting from March 25 amid the coronavirus pandemic.
Replying to a debate on the Bill in the House, Finance Minister Nirmala Sitharaman said the intention of the IBC is to keep companies a “going concern” and not liquidate them.
The Bill mandates that a default on repayments from March 25, the day when a nationwide lockdown began to curb the spread of coronavirus, would not be considered for initiating insolvency proceedings for at least six months.
The bill seeks to replace an ordinance promulgated in this regard in June.
Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.
Top News
Related Articles More
Congress to discuss candidates for Amethi, Raebareli seats on Saturday
Cache of arms including foreign-made revolvers seized by CBI in Sandeshkhali raids
24 Indian Fishermen Released from Sri Lankan Detention, Repatriated to India
SC verdict on EVM tight slap to Congress-led opposition: PM Modi in Bihar rallies
Board exams twice a year from 2025: MoE asks CBSE to work out logistics, no plan for semesters
MUST WATCH
Latest Additions
Patanjali Foods to evaluate proposal to buy Patanjali Ayurved’s non-food business
Congress to discuss candidates for Amethi, Raebareli seats on Saturday
BJP’s CT Ravi Booked for Promoting Hatred and Enmity Through Social Media Post
Elections held in 14 LS segments in Karnataka, voter turnout nearly 64 per cent till 5 pm
‘PM is scared, may even shed tears on stage’: Rahul Gandhi’s fresh salvo at Modi