Parliament highlights: Lok Sabha discusses bill to amend insolvency and bankruptcy code
The Narendra Modi government will introduce National Medical Commission Bill and seek amendments to the Insolvency and Bankruptcy Code. Here are our live updates.
The government introduced a bill to overhaul India’s medical education in Lok Sabha on Friday, a day after passing the historic legislation to criminalise instant triple talaq.
In the Lower House, finance minister Arun Jaitley pushed for the passage of the amendments to the Insolvency and Bankruptcy Code to prohibit certain people like wilful defaulters or disqualified directors from submitting a resolution plan.
Here are highlights:
1.55pm: Lok Sabha takes up The Insolvency and Bankruptcy Code (Amendment) Bill, 2017.
1.50pm: National Medical Commission Bill 2017 has been introduced in Lok Sabha.
1pm: Ritabrata Banerjee, who was recently expelled from the CPI(M), demands in the Rajya Sabha that the government declare January 23, the birth anniversary of Netaji Subhash Chandra Bose as ‘Desh Prem Diwas’ (Patriotism Day) and a national holiday as a fitting tribute to “the forgotten hero” of the Indian independence struggle.
Rajya Sabha chairman M Venkaiah Naidu hopes the government will take note of the suggestion but went on to add that members should not be seen asking for holidays.
12.45pm: Consumer affairs minister Ramvilas Pawan asks members in Rajya Sabha not to delay the approval of a proposed bill on consumer protection after one of them raised the issue of misleading advertisements.
12.30pm: The Rajya Sabha will have a long weekend and resume work on January two, as it decided to have a holiday on the first day of 2018. Minister of state for parliamentary affairs Vijay Goel said political parties and several members, especially those from the remote parts like the Northeast, had urged that January 1 be declared a holiday.
12.20pm: Mumbai MPs discuss Kamala Mills fire incident in the Lok Sabha. Shiv Sena’s Mumbai South MP Arvind Sawant demands judicial probe into the fire incident while Mumbai North-East MP Kirit Somaiya wants thorough audit of such mills.
11.55am: Instant Triple Talaq bill will be tabled in Rajya Sabha next week, reports ANI news agency.
11.20am: In Lok Sabha, finance minister Arun Jaitley says demonetisation effect was not visible in Q1FY18, data shows that services rose by 8.7%. He says the cooperative banks functioned like any other commercial bank and the principle of mutuality, which is central to granting exemption under Section 80P of the Income Tax Act, does not apply to them because their area of operations extends even to non-members.
* The National Medical Commission Bill 2017, to be introduced in the Lok Sabha, will replace the Indian Medical Council Act, 1956, in what is seen as a big leap forward towards reforming the regulation of medical education.
* The Medical Council of India has often received flak for its way of handling medical education while some of its members have been alleged to have taken bribes to facilitate accreditation of medical colleges, or accelerate the process.
*The passage of the amendments to the Insolvency and Bankruptcy Code will bar a professional from selling the property of a defaulter to any such person during liquidation.
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