The Insolvency and Bankruptcy Code 2021 Amendment Bill was introduced to bring in a few changes related to an easy and efficient way of insolvency resolution among the Micro, Small and Medium Enterprises (MSME). This IBC 2021 bill was introduced with the objective of amending the Insolvency and Bankruptcy Code (IBC) 2016. You can read about Insolvency And Bankruptcy Code (IBC) – IBC Amendment Bill 2021 [UPSC Notes GS III] in the given link.
This can save the cost of bankruptcy proceedings and time.
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