New Delhi: The Cabinet on Wednesday sought President’s approval for amending the Insolvency and Bankruptcy Code (IBC). This amendment is through an ordinance and will be placed before the Parliament in the winter session. Finance minister Arun Jaitley did not divulge details about the changes being made to the Code, as it is yet to be approved by the President.
“Some changes are proposed to the IBC, since this is being done by an ordinance and till it is approved as a matter of propriety we dont give the details,” Jaitley told reporters at a press conference after the cabinet meeting.