Centre seeks comments on proposed changes to insolvency law ahead of Budget 2022-23
Zee News
The Central government has invited comments on several amendments proposed to the insolvency law.
New Delhi: The Central government, on Thursday (December 23), announced that it has invited comments on several amendments proposed to the insolvency law. The Centre is inviting recommendations on provisions related to the time period for approval of resolution plans as well as avoidable transactions and wrongful trading, according to a report by PTI.
The Insolvency Law Committee (ILC) has recently proposed the amendments to make changes to the current law, that some feel isn’t appropriate in certain cases related to insolvency.
The Central government has sought comments on the recent proposals by January 13, 2022, a few weeks ahead of the Union Budget 2022.
