New Delhi: The government will come out with an ordinance to make certain amendments to the Insolvency and Bankruptcy Code, Corporate Affairs Minister Arun Jaitley said on Wednesday.
The Code, which became operational in December last year, provides for a market-determined and time-bound insolvency resolution process. It is implemented by the corporate affairs ministry.
File image of Union Minister for Finance and Corporate Affairs, Arun Jaitley. PTI.
The Cabinet on Wednesday approved bringing in an ordinance to make “some changes” in the Code, Jaitley told reporters here.
Details about the proposed changes could not be immediately ascertained.
The move also comes at a time when there are concerns in certain quarters about various aspects o…
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