Insolvency and Bankruptcy Code Bill has been introduced in the Lok Sabha as part of an amendment to bring relief to the home buyers and Micro, Small and Medium Enterprises or MSMEs. Addressing the members, TDP MP Jayadev Galla has highlighted how Insolvency and Bankruptcy Code has been facing competition with that of the foreign countries. There is a need to have elaborate frame work on Insolvency and asked the concerned ministry what it is doing in this regard. Guntur TDP MP has also asked the role played by Insolvency Law Committee.
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