The Lok Sabha on Tuesday gave its nod for the Insolvency and Bankruptcy Code (Second Amendment) Bill 2018 that seeks to replace the June 6 ordinance, which provided relief to home buyers and MSME sector.
The Bill got the approval of the Lower House after the principal opposition Congress demand of sending it to the Standing Committee on Finance was rejected.
Interim Finance Minister Piyush Goyal, who moved the Bill for consideration and passage, also rejected the contention of the Opposition parties that the Bill was tainted as certain changes were being brought about to favour a large influential corporate house, which was acquiring Alok Industries at about 5,000 crore when the debt owed by the debtor company in question was as high as …
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