According to sources day after passing the contentious Citizenship Amendment Bill, parliament on thursday witnessed stormy scenes after some MPs expressed their objections to the Insolvency and Bankruptcy Code (Second Amendment) Bill, which was introduced in the Lok Sabhaby Finance minister Nirmala Sitharaman. Meanwhile Union finance minister nirmala sitharaman introduced a bill in the lok sabha to amend the Insolvency and Bankruptcy code amid protests from the Opposition that demanded the bill to be referred to a standing committee for scrutiny.
Furthermore the amendments seek to remove bottlenecks and streamline the corporate insolvency resolution process, wherein successful bidders will be ring-fenced from any risk of criminal proceedings for offences committed by previous promoters of companies concerned. When opposing the introduction of the bill without following the mandatory two day notice, congress leader Adhir Chowdhury said one after another amendment was brought in the IBC and it implied "inconsistency" of the government in managing the economy.
Moreover he also pointed to the rule that no bill could be introduced until copies were made available two days in advance. Perhaps the bill was circulated among the members in the morning, Chowdhury said, adding, the objection was that the ministry had been taking the entire parliament for a ride .