The Lok Sabha has taken up Insolvency and Bankruptcy Code (Amendment) Bill -2017 for the consideration and passage. The bill prohibits certain persons from submitting a resolution plan in case of defaults. <br/><br/>These include wilful defaulters, promoters or management of the company if it has an outstanding non-performing debt for over a year. <br/><br/>The Bill also has provisions to bar the sale of property of a defaulter to such persons during liquidation. Finance Minister Arun Jaitley moved the bill for the consideration and passing<br/>