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TaxTMI 
No reduction in approval of resolution plans after enactment of IBC (Amendment) Ordinance 2017
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....o reduction in approval of resolution plans after enactment of IBC (Amendment) Ordinance 2017 <br>News and Press Release<br>Dated:- 14-3-2018<br><BR>There is no reduction in submission of resolution p....
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....lans after enactment of The Insolvency and Bankruptcy Code (Amendment) Ordinance, 2017. 8 (Eight) resolution plans have been approved by National Company Law Tribunal (NCLT) after coming into effect o....
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....f Ordinance as compared to 5 (Five) resolution plans approved earlier. The said Ordinance was promulgated on 23.11.2017 to amend Insolvency and Bankruptcy Code, 2016 (Code) in order to further streng....
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....then the insolvency resolution process by prohibiting certain persons from submitting a resolution plan who, on account of their antecedents, may adversely impact the credibility of the processes unde....
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....r the Code and further to make provisions to specify certain additional requirements for submission and consideration of the resolution plan before its approval by committee of creditors. The Ordinanc....
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....e was replaced by The Insolvency and Bankruptcy Code (Amendment) Act, 2018 on 18.01.2018. This was stated by Shri P.P. Chaudhary, Minister of State for Corporate and Law & Justice in Rajya Sabha.<BR>....
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.... News - Press release - PIB....