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Parliament: Bill to amend Insolvency and Bankruptcy Code, 2016 to be introduced in LS today

·2 min read
Representative image
Representative image

New Delhi [India], July 26 (ANI): As the Lok Sabha is all set to resume proceedings on Monday two days after the house was adjourned amid the ruckus created by the Opposition, Union Finance Minister Nirmala Sitharaman will introduce a bill to amend the Insolvency and Bankruptcy Code, 2016.

Sitharaman will also table an explanatory statement showing reasons for immediate legislation by the promulgation of the Insolvency and Bankruptcy Code (Amendment) Ordinance, 2021.

She will also move the bill to amend Factoring Regulation Act, 2011, for consideration.

Another important bill, the National Institutes of Food Technology, Entrepreneurship and Management Bill, 2021, which has already been passed by the Rajya Sabha, will be moved in the Lok Sabha today by Union Food Processing Industries Minister Pashupati Kumar Paras for consideration.

The Bill aims to declare certain institutions of Food Technology, Entrepreneurship, and Management to be the institutions of national importance and to provide for instructions and research in food technology, entrepreneurship, and management and for the advancement of learning and dissemination of knowledge in such branches and for matters connected

therewith or incidental.

Also, Union Ministers Anto Antony and Ramdas Chandrabhanji Tadas will table the 294th report on 'Development and Conservation of Museums and Archaeological Sites - Challenges and Opportunities' of the Standing Committee on Transport, Tourism, and Culture, in the Lowe House today.

Initially, on Friday, the Lok Sabha was adjourned till 12 noon on the fourth day of the Monsoon session amid the ruckus created by the Opposition. As soon as the Houses convened, the Opposition created a ruckus over the farmers' agitation and Pegasus Project issue leading to further adjournments. The Lok Sabha will now resume on Monday at 11 am.

The Monsoon Session began on a stormy note on July 19 amidst uproar from Opposition parties who did not allow Prime Minister Narendra Modi to introduce newly-inducted Union ministers to the Parliament.

The Monsoon Session of Parliament will continue till August 13. (ANI)

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