New Delhi:The government is looking into the application of the amended insolvency law for medium and small enterprises, and a decision will be made based on the recommendations of a committee set up the review the law, finance minister Arun Jaitley said on Tuesday.
Replying to a debate on the Insolvency and Bankruptcy Code (Amendment) Bill, 2017, Jaitley said the changes were needed as those who ran a company down to the ground and to insolvency could not be allowed back in management after paying a part of the amount.
“The same set of people would come back into management… Nothing would change except that the creditors have taken a haircut,” Jaitley said.
The bill sought to replace an ordinance promulgated by the go…
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