The bill, which was passed by the Lok Sabha in April, was referred to the Rajya Sabha's Select Committee after the opposition parties blocked its passage in the Upper House.
Consensus has been arrived at among the members of the committee with the MPs of all the parties agreeing on according constitutional status to the commission, said one of them.
The member further said the panel, led by BJP MP Bhupender Yadav, will submit its report in the first week of the Monsoon Session of Parliament, which is likely to commence on July 17.
The 25-member Rajya Sabha Select Committee includes seniors like Sharad Yadav, Ram Gopal Yadav, Satish Misra and Praful Patel.
Yadav has, in the past also, successfully convinced all the parties to agree on many controversial legislations, including the GST Bill, the Mines and Minerals Bill and the Enemy Property Bill.
The BJP general secretary was also the Chairman of the Joint Committee on Insolvency and Bankruptcy Code, 2015.
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