Parliament Monsoon Session Live Updates: Piyush Goyal To Move Insolvency Bill

 
Parliament Monsoon Session Live Updates: Piyush Goyal To Move Insolvency Bill

NEW DELHI: A day after parliament witnessed ruckus over the Assam citizen draft, Congress has moved an adjournment motion in the parliament over the citizen list. The upper house of the parliament witnessed three adjournments on Monday amid continued uproar. 

In the Lok Sabha, interim Finance Minister Piyush Goyal will move the Insolvency and Bankruptcy Code (Second Amendment) Bill, 2018, today. The bill, introduced in the parliament by Mr Goyal on July 23, empowers home buyers to be recognised as financial creditors. The amendments to the IBC is intended to give relief to the home buyers by recognising their status as financial creditors, thus giving them due representation in the Committee of Creditors (CoC) and making them an integral part of the decision-making process.

It also proposes to reduce the minimum voting threshold for the Committee of Creditors (CoC) to 66 per cent, from 75 per cent for key decisions.