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Parliament


Parliament passes Insolvency Bill; RS returns Bill to LS

Parliament passes Insolvency Bill; RS returns Bill to LS

New Delhi, Aug 10 (UNI) Parliament on Friday cleared the Insolvency and Bankruptcy Code (Second Amendment) Bill, 2018 with Rajya Sabha passing it with a voice vote and returning to the Lok Sabha.

Allaying doubts expressed by several Members over the Bill, Minister for Corporate Affairs Piyush Goyal said banks would be given a free hand to ensure that willful defaulters were dealt with an iron hand.

'The haircut is only for genuine cases,' he told Members.

The Bill seeks to amend the Insolvency and Bankruptcy Code, 2016 to clarify that allottees under a real estate project should be treated as financial creditors, raises the voting threshold for routine decisions taken by the committee of creditors and allowing withdrawal of a resolution application submitted to the NCLT under the Code.

Replying to the debate in the Rajya Sabha, the Minister said in view of mounting litigation, the Government was trying to increase the number of courts to dispose litigation.

Mr Goyal said his Government had recovered nearly 55 per cent of total bad debts. With a one-year limitation period, he hoped that the cases would be disposed of quickly.

The Lok Sabha had passed the Bill on July 31.

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RS: Bill to increase number of SC judges passed without discussion

07 Aug 2019 | 2:14 PM

New Delhi, Aug 7 (UNI) As agreed by both Treasury and Opposition benches, the Rajya Sabha on Wednesday passed the Supreme Court (Number of Judges) Amendment Bill, 2019 without discussion in the House.

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Rajya Sabha adjourned sine die

07 Aug 2019 | 2:03 PM

(Rptg, correcting para2)
New Delhi, Aug 7 (UNI) The 249th session of Rajya Sabha Wednesday adjourned sine die after paying rich tributes to the former Member of the Upper House and former External Affairs Minister Sushma Swaraj.

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Rajya Sabha adjourned sine die

Rajya Sabha adjourned sine die

07 Aug 2019 | 1:10 PM

New Delhi, Aug 7 (UNI) The 249th session of Rajya Sabha Wednesday adjourned sine die after paying rich tributes to the former Member of the Upper House and former External Affairs Minister Sushma Swaraj.

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Parliament nod to Consumer Protection Bill, 2019

Parliament nod to Consumer Protection Bill, 2019

06 Aug 2019 | 10:38 PM

New Delhi, Aug 6 (UNI) Parliament on Tuesday gave its nod to the Consumer Protection Bill, 2019, providing more teeth to consumer protection and rights, apart from keeping check on misleading advertisements.

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