Lok Sabha approves Insolvency and Bankruptcy Code (Amendment) Bill

Lok Sabha approves Insolvency and Bankruptcy Code (Amendment) BillIANS The Lok Sabha on Monday approved the Insolvency and Bankruptcy Code (Amendment) Bill, aimed at speeding up insolvency proceedings to resolve cases related to defaulting companies. The Bill introduces a mandatory 14-day timeline for admitting insolvency applications once a company’s default has been established. Finance Minister…