The Insolvency Code Amendment Bill was passed in the Rajya Sabha

 The Insolvency Code Amendment Bill was passed in the Rajya Sabha

The Insolvency and Bankruptcy Code (Second Amendment) Bill 2020 was approved by the Rajya Sabha on Saturday.  As a result, no bankruptcy cases can be made in March, at least for the next six months, in the event of a coronavirus.  Finance Minister Nirmala Sitharaman said the move was taken into account the various problems of the companies.  As of March 25, there will be no action on payment disability.  The government issued an ordinance in June.  Sitaraman clarified that bankruptcy cases can be filed against corporate borrowers and individuals who have given personal guarantees at the same time.