Lok Sabha passes IBC Amendment Bill
Lok Sabha passes IBC Amendment Bill

The Lok Sabha passed The Insolvency and Bankruptcy Code (Second Amendment) Bill, 2018, seeking to replace the IBC Amendment Ordinance promulgated on 06.06.2018.


  • Home buyers recognized as financial creditors.
  • Reduction of minimum voting requirements from 75% to 66% for seeking extension of CIRP Period, appointment and replacement of Resolution Professional, approval of resolution plan and approval for liquidation.
  • Approval of CCI required before the approval of the resolution plan by the Committee of Creditors (CoC) in combination cases.

For more: http://ibbi.gov.in/webadmin/pdf/whatsnew/2018/Jul/127_2018_LS_Eng_2018-07-24%2013:33:19.pdf