LIVE: President promulgates Insolvency and Bankruptcy Code Ordinance, 2021
The President Ram Nath Kovind on Wednesday promulgated the Insolvency and Individual bankruptcy Code (Modification) Ordinance, 2021. The Cupboard had authorised on thirty first March 2021 the proposal to make amendments in the Insolvency and Individual bankruptcy Code, 2016 (Code), by the Insolvency and Individual bankruptcy Code (Modification) Ordinance, 2021.
Meanwhile, the governing administration right now authorised a production-joined incentive plan for air-conditioner and LED light-weight sectors with an outlay of Rs six,238 crore. The proposal was authorised in a Union Cupboard conference, which was chaired by Prime Minister Narendra Modi. The Union Cupboard also gave nod to the production joined incentive (PLI) plan with an outlay of Rs 4,500 crore to incorporate 10,000 MW potential of integrated photo voltaic PV modules manufacturing plants.