You are here: Home » Current Affairs » News » National
Business Standard

Bankruptcy Code 'an example of hurried legislation', has gaps: Congress

Congress spokesperson Abhishek Manu Singhvi urged the government to seriously consider and try and plug as many loopholes as can be through the amendment

IANS  |  New Delhi 

Abhishek Manu Singhvi
Abhishek Manu Singhvi

The on Thursday said the (IBC) of 2016 is "an example of a hurried legislation and has many gaps".

The reaction came after President Ram Nath Kovind signed an ordinance on Thursday for amendment to the Code, which was sent to him by the Union Cabinet a day earlier.

"It is an example of a hurried legislation. The Act has a lot of potential but many gaps have been left because of the hurry to declare it exactly as the Goods and Services Tax.

"So, you now find that a major loophole is sought to be corrected, and if it is properly corrected, I will applaud it," said spokesperson

He said he would reserve comments till he saw the final version. "If it is properly plugged, I would support it."

He urged the government to seriously consider and try and plug as many loopholes as can be through the amendment.

 

First Published: Fri, November 24 2017. 09:18 IST
RECOMMENDED FOR YOU