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THE INSOLVENCY AND BANKRUPTCY CODE, 2016– AS PASSED BY LOK SABHA ON 5.5.2016- Bill No. 349-C of 2015
The Insolvency and Bankruptcy Code, 2015 was Introduced in Lok Sabha on 21.12.2015 and it is passed by Lok Sabha after Various discussion on 05.05.2016. The bill was edited by Joint Committee of Parliament on Insolvency and Bankruptcy Code, 2015. Joint committee has given its Report on Insolvency & Bankruptcy Code, 2015 on 28.04.2016.
The objective of the Insolvency and Bankruptcy Code, 2015 is to consolidate and amend the laws relating to reorganization and insolvency resolution of corporate persons, partnership firms and individuals in a time bound manner.
The bill will now go to Rajya Sabha for approval and after Rajya Sabha approves it the same will be sent to Honourable President for his Assent, on receipt of assent the same will become and act applicable from the date of its notification.
Download The Insolvency and Bankruptcy Code, 2015
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