Lok Sabha passes amendments to insolvency and bankruptcy code

NEWDELHI: The Lok Sabha on Friday passed the Insolvency and Bankruptcy Code (Amendment) Bill, 2017, paving the way for tightening loopholes in the existing code and making the resolution process more effective.

The bill replaces an ordinance that was brought in last month seeking to bar wilful defaulters, defaulters whose dues had been classified as non-performing assets (NPAS) for more than a year, and all related entities of these firms from participating in the resolution process.

The bill has diluted some of the stringent provisions of the ordinance and seeks to strike a balance in the trade off between punishing wilful defaulters and ensuring a more effective insolvency process.

The bill allows defaulting promoters to be part of the debt resolution process, provided they repay the dues in a month to make their loan account operational and the resolution happens within the overall time frame specified in the code.

This will help promoters who had submitted resolution plans before the ordinance barred them from taking part in the resolution process of companies. NEW DELHI: Despite the toxic haze that engulfed Delhi for more than a week in November, the national capital breathed comparatively cleaner air this year than it did in 2016.

The air quality was “severe” for eight days in 2017 as against 26 the previous year, according to data from the Central Pollution Control Board (CPCB). Besides the three-time drop in “severe” days, the air quality was “very poor” for 76 days as against 97 in 2016 and “poor” for 114 days as compared to 122 last year.

“In 2016, Delhi didn’t witness a single day when air quality was ‘good’. In 2017, the city got at least two days of ‘good’ air, which means pollution levels were bare minimum,” said D Saha, head of the CPCB’S air quality lab.

An air quality index (AQI) of 0-50 is considered good, 51-100 satisfactory, 101-200 moderate, 201300 poor, 301-400 very poor and 401-500 severe. There was no comparative data available for the whole of 2015 as the national AQI came into effect in May that year.

Experts said that the credit for this upswing goes largely to favourable weather conditions, and suggested that some tough anti-pollution measures introduced in 2017 may have worked.

“Meteorological parameters play an important role in determining Delhi’s air quality. Strong winds from the north during the winter helps flush out pollutants,” Saha said.

No. of days 2016