Changes & Impact Under IBC Through Changes By Ordinance

Changes & Impact Under IBC Through Changes By Ordinance
              The Insolvency & Bankruptcy Code (Amendment) Ordinance, 2017
                                                         Changes & Impact
Assent- It received the assent of Honourable President of India on 23rd November,2017
Date of effect – It is effective from 23rd November,2017 itself.
Aim – The following is the aim to bring this ordinance :
a.to further strengthening the insolvency resolution process.
b.to prohibit certain persons from submitting a resolution plan who, on account of their antecedents, may adversely impact the credibility of the processes under the Code.
c.to specify additional requirements for submission and consideration of the resolution plan before its approval by the Committee of Creditors.
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Ordinance Changes & impact

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