Published:May 4, 2016 3:49 pm
Finance Ministry officials said the government has accepted all the changes suggested by the Joint Committee, including on disqualification of the bankrupt.
A bankrupt person would stand automatically disqualified from becoming a law-maker once the new legislation that looks to slash the time it takes to wind up a dying company or recover dues from a defaulter is enacted.
According to a clause in the Insolvency and Bankruptcy Code, 2015, the bankrupt would stand disqualified from being appointed or acting as a public servant or being elected to any public office from the date of commencement of proceedings.
The draft …
Read the full article at: http://indianexpress.com/article/business/business-others/bankrupt-proposed-law-may-disqualify-bar-you-from-holding-public-office/