Lok Sabha clears insolvency and bankruptcy code

The bill aims to regulate insolvency including time-bound recovery of dues

GN Bureau | May 6, 2016


#bad loans   #banks   #loan recovery   #bankruptcy   #Insolvency  


 As the banking sector reels under bad loans, the Lok Sabha on Thursday cleared the Insolvency and Bankruptcy Code that aims to regulate insolvency including time-bound recovery of dues from defaulters. It will now have to be cleared by the Rajya Sabha before becoming a law. 

 
Talking about the Bill, minister of state for finance Jayant Sinha said that it would help India climb in the World Bank rankings of ease of doing business. In the Bank’s last report, India ranked 130 out of the 189 countries assessed in the aforementioned area. 
 
Sinha added that the proposed bill would simplify the current insolvency process with one law rather than about a dozen laws which exist to tackle insolvency. 
 
 

Comments

 

Other News

Here’s an I.D.E.A. for career growth and success

Success in today’s professional organisation is no longer solely determined by academic qualifications, technical expertise or years of experience. While these attributes do matter, organisations increasingly value individuals who demonstrate the right mindset and behavioural qualities. The ability

PM interacts with CEOs, founders of space startups

Prime minister Narendra Modi interacted with CEOs and Founders of 20 Space Startups at Seva Teerth on Friday.   CEOs of leading companies in the space sector working in diverse fields ranging from building rockets and reusable semi-cryogenic launch vehicles, avionics, satelli

From one cow to a dairy business

In 2012, Anita Dash wasn`t dreaming of building a dairy brand. She wasn`t studying business models or planning market expansion. Like countless mothers across India, her focus was on something much simpler: giving her children a better future.   At the time, her most valuable

Ethanol blending: The two sides of a story

India`s crude oil consumption is estimated to be around 88.5% imported from abroad. This one single figure is also responsible for why ethanol has become both an economic strategy and fuel policy at the same time. In an economy like India, which depends so heavily on foreign oil, any increase in internat

Food inflation: Not a macroeconomic statistic but a developmental indicator

India`s retail inflation shows a reassuring picture at first glance. According to the latest data, Consumer Price Index (CPI) inflation edged up to 4.38% in June 2026 from 3.93% in May 2026, but continued to remain within the Reserve Bank of India`s (RBI) target band of 4% (+/- 2%). However, beneath this

Skin in the game or masterful market timing?

When a company founder opens their personal chequebook to buy shares in their own business, stock markets usually applaud. To the average retail investor, it feels like the ultimate vote of confidence, a sign that the people running the show have real skin in the game and believe brighter days are ahead.

Upcoming Conferences



-->

Archives

Current Issue

Opinion

Facebook Twitter Google Plus Linkedin Subscribe Newsletter

Twitter