If enacted as a law, the Draft Bill will govern the use of data of Indian citizens, by both government and private entities, incorporated in India and abroad.
The Bill allows for a person to be declared a FEO. Upon this declaration, properties of the FEO may be confiscated by the central governemnt. Further, the FEO or any company associated with him is barred from filing a civil claims.
The Insolvency and Bankruptcy Code (Amendment) Ordinance, 2018 was promulgated on June 6, 2018. It amends the Insolvency and Bankruptcy Code, 2016. The Code provides a time-bound process for resolving insolvency in companies and among individuals. Insolvency is a situation where individuals or companies are unable to repay their outstanding debt.
