New Delhi: The government is likely to move Insolvency and Bankruptcy Code (IBC) Amendment Bill in Parliament on Monday, sources in the Ministry of Corporate Affairs (MCA) said on Thursday.
According to sources, the amendment will be applicable on all ongoing IBC cases and the cases which are under judicial review. IBC Bill has eight amendments in seven sections of the IBC.
The amendment seeks to address voting deadlocks where a large number of financial creditors are involved, sources added. It may be noted that the Union Cabinet had approved the amendment in the IBC in its meeting held on Wednesday.