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9th August 2016 Current Affairs Questions and Answers

9th August 2016 Current Affairs MCQs, Quiz, Questions : Current Affairs for August 2016 ,  Daily Multiple Choice Questions (MCQs) for In...

Insolvency and Bankruptcy Code (Amendment) Bill 2017

Lok Sabha has passed the Insolvency and Bankruptcy Code (Amendment) Bill -2017.The bill prohibits certain persons from submitting a resolution plan in case of defaults. These include wilful defaulters, promoters or management of the company if it has an outstanding non-performing debt for over a year. 
The Bill also has provisions to bar the sale of property of a defaulter to such persons during liquidation. Earlier, Finance Minister Arun Jaitley moved the bill for the consideration and passing.