Live
- Centre should probe Soros-Gandhis nexus
- Student held, released after counselling
- Thousands witness Sagara Harathi
- Devotees participate in Kalasa Jyothi procession
- Music is My Language of Storytelling: Ajay Arasada
- Heavy Rainfall Forecasted in Andhra Pradesh and Telangana Due to Low Pressure Area
- Fierce battle ahead: Kejriwal faces off against sons of former CMs in New Delhi Assembly seat
- Police Attempt to Seize Mohan Babu’s Gun in TV9 Reporter Attack Case
- A feminist lens on our mythology
- Prakasam police rescues kidnapped toddler within hours
Govt to push Bankruptcy Bill in Parliament in next three days: Finance Minster
Highlights
Finance Minister Arun Jaitley on December 19, said he will push for bankruptcy law in the remaining three days of the ongoing winter session of Parliament.
Finance Minister Arun Jaitley on December 19, said he will push for bankruptcy law in the remaining three days of the ongoing winter session of Parliament.
"The next three days in Parliament are extremely crucial... I am going to be pushing for the insolvency and bankruptcy law before Parliament in the next three days," Jaitley said while speaking at the FICCI AGM here.
Referring to the Arbitration and Conciliation Bill, which has already been passed by the Lok Sabha, he said the new legislation provides for a fast-track mechanism to complete adjudication. The Bill would come up before the Rajya Sabha in these three days. The winter session of Parliament ends on Wednesday.
As for setting up of the commercial courts Bill, Jaitley said it sought to expedite resolution of commercial disputes pending in courts for years and decades. This too will be brought to the Rajya Sabha.
"These are important pieces of reforms which we are going to try and I hope nobody tries to hurt this country's interest...," he added.
With a view to promoting ease of doing business and spurring economic activities, a government-appointed panel had last month suggested a modern bankruptcy law to deal with insolvency cases within 180 days that may arise on account of business failures or economic downturns.
The draft legislation prepared by the panel also proposes early identification of financial distress so that steps could be taken to revive the ailing company.
Next Story
ADVERTISEMENT
