12:56 March 06
Proceedings of Lok Sabha were adjourned for the day amid continued protests by the Opposition over the Delhi violence and other issues.
The House was adjourned after the passage of two Bills -- the Mineral Laws (Amendment) Bill and the Insolvency and Bankruptcy Code (Second Amendment) Bill.
The House will reassemble on Wednesday (March 11) after the Holi break.
12:54 March 06
Lok Sabha passed the Mineral Laws (Amendment) Bill, 2020 and the Insolvency and Bankruptcy Code (Second Amendment) Bill amid sloganeering by Opposition members.
12:40 March 06
Meanwhile, a committee has been formed by the Speaker, that will inquire about the incidents that happened in the House between March 2 to March 5 and submit its report to Parliament. The Speaker will head the committee.
12:35 March 06
Amidst constant sloganeering by the Opposition, the Chair adjourned proceedings till 12:45 pm.
12:27 March 06
Defending government's decision to suspend the seven Congress MPs, Union Parliamentary Affairs Minister Pralhad Joshi said the "misconduct" had never happened in India's 70-year history..
"The government does not want to keep any MP outside the Parliament. But, what happened yesterday, never happened in the 70 years of independent India," he said.
12:23 March 06
Requesting that the suspension of the seven Congress MPs be recalled, DMK MP Dayanidhi Maran said, "Over 50 people have died in Delhi, the Home Minister and Prime Minister have not even come to the House. Members will naturally be agitated."
12:11 March 06
Congress floor leader Adhir Ranjan Chowdhury said he was pained by the decision to suspend seven Congress MPs for the rest of the Session.
"All members regard the Chair as the Pope of the Vatican. But this is an extraordinary precedent. We just want discussion on the Delhi violence," he said.
"Pickpockets cannot be given death penalty. When they (government) abuse our members nothing happens, but we protest, we are suspended," he added.
Later the time was revised to 12 noon.
11:04 March 06
As soon as Lok Sabha assembled at 11 AM, some members of the Congress and other Opposition parties trooped into the well of the House, raising slogans demanding that Home Minister Amit Shah resign over the Delhi violence.
As the commotion continued during the Question Hour, Kirit Solanki, who was presiding the proceedings, announced adjourning the House till 2 PM.
Later the time was revised to 12 noon.
09:02 March 06
Sitharaman to move Insolvency and Bankruptcy Code (Second Amendment) Bill, 2019
New Delhi:Union Finance Minister Nirmala Sitharaman on Friday will move the Insolvency and Bankruptcy Code (Second Amendment) Bill, 2019 for consideration and passing in Lok Sabha.
In December last year, the Union Cabinet had approved a proposal to promulgate an ordinance to amend the Insolvency and Bankruptcy Code (IBC) 2016. The amendments will remove certain ambiguities in the IBC 2016 and ensure smooth implementation of the code, an official statement said.
The move is aimed at easing the insolvency resolution process and promoting the ease of doing business. Aimed at streamlining of the insolvency resolution process, the amendments seek to protect last-mile funding and boost investment in financially-distressed sectors.
Under the amendments, the liability of a corporate debtor for an offence committed before the corporate insolvency resolution process will cease.
The debtor will not be prosecuted for an offence from the date the resolution plan has been approved by the adjudicating authority if a resolution plan results in change in the management or control of the corporate debtor to a person who was not a promoter or in the management or control of the corporate debtor or a related party of such a person.
The amendments are aimed at providing more protection to bidders participating in the recovery proceedings and in turn boosting investor confidence in the country's financial system.
(ANI Report)