Bankruptcy Law Reform Committee submits its Report to the Union Finance Minister Shri Arun Jaitley ; Government invites comments on the report from the stakeholders by 19th Novemebr,2015

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..... Bankruptcy Law Reform Committee submits its Report to the Union Finance Minister Shri Arun Jaitley ; Government invites comments on the report from the stakeholders by 19th Novemebr,2015
News and Press Release
Dated:- 4-11-2015

The Finance Minister Shri Arun Jaitley, in his Budget Speech 2015-16, had identified Bankruptcy Law Reform as a key priority for improving the ease of doing b .....

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..... usiness and had announced that a comprehensive Bankruptcy Code, meeting global standards and providing necessary judicial capacity, will be brought in fiscal 2015-16. The Government had constituted a Bankruptcy Law Reform Committee under the Chairmanship of Dr. T. K. Viswanathan, former Law Secretary to look into various Bankruptcy related issues and give its report along with a draft Bill on the .....

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..... subject to the Government. Dr. Viswanathan submitted the Report of the Committee to the Finance Minister Shri Arun Jaitley in his office here today. The Report is in two parts: Volume I - titled "Rationale and Design" and Volume II - titled "Draft Insolvency and Bankruptcy Bill". The Report, along with a brief summary of the recommendations, has been placed on the website of the Ministry of Fina .....

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..... nce at www.finmin.nic.in for stakeholder consultation. Comments/suggestions, if any, on the Report may be sent to the OSD (FSLRC & Law), Ministry of Finance, Deptt. of Economic Affairs, Room No. 30, North Block, New Delhi 110001, preferably by email at [email protected] by 19.11.2015. After taking the suggestions/views into consideration, the Government will take a final decision on the Rep .....

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..... ort and introduce the Bill in Parliament as early as possible.
News - Press release - PIB .....

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