Lok Sabha passes Insolvency & Bankruptcy Code Amendment Bill
The Lok Sabha on Friday passed the Insolvency and Bankruptcy Code Amendment Bill 2017.  The Bill debars wilful defaulters and existing promoters from bidding for stressed assets of companies undergoing insolvency proceedings. Finance Minister Arun Jaitley said that the government cannot allow loan defaulters to "merrily walk back" by paying a fraction of the due amount.