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Highlight of changes proposed by Insolvency and Bankruptcy Code (Amendment) Bill, 2017

December 29, 2017
An Ordinance was issued on 23-11-2017, to remove the defects and to avoid misuse of provisions of Insolvency Code. An Amendment Bill to convert Ordinance into Act has been passed by Lok Sabha on 29-12-2017 and will be placed before Rajya Sabha for its approval in first week of January, 2018. In this write up, major changes in the Amendment Bill, 2017 have been highlighted. These will be effective from 23-11-2017 i.e. date when Ordinance was issued.
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