The President Ram Nath Kovind on Wednesday promulgated the Insolvency and Bankruptcy Code (Modification) Ordinance, 2021. The Cupboard had permitted on thirty first March 2021 the proposal to make amendments in the Insolvency and Bankruptcy Code, 2016 (Code), as a result of the Insolvency and Bankruptcy Code (Modification) Ordinance, 2021.
In the meantime, the government today permitted a production-connected incentive scheme for air-conditioner and LED light-weight sectors with an outlay of Rs 6,238 crore. The proposal was permitted in a Union Cupboard conference, which was chaired by Prime Minister Narendra Modi. The Union Cupboard also gave nod to the production connected incentive (PLI) scheme with an outlay of Rs four,500 crore to increase 10,000 MW capacity of integrated photo voltaic PV modules production plants.