The government is likely to make substantive amendments in upcoming budget into Insolvency and Bankruptcy Code (IBC). Though has fixed certain problematic areas in insolvency ordinance that was issued last month.

A committee has also been set up to identify the areas that need to be hailed after seeing the working of the insolvency code for about a year. The committee will be headed by corporate affairs secretary and Insolvency & Bankruptcy Board chairman MS Sahoo.

The removal of Minimum Alternate Tax (MAT) for new investors apprehending depressed bids has been summoned by Indian Bank Association.

Source: Economic Times