Parliament Session highlights: Both houses paid tribute to the brave hearts of Kargil war.
Amid an uproar by the opposition members, both Rajya Sabha and Lok Sabha have been adjourned for the day.
Proceedings in Rajya Sabha and Lok Sabha were repeatedly disrupted as opposition members protested on the phone-tapping, farm laws and other issues and demanded a discussion after the suspension of regular business.
The government on Monday introduced a bill in the Lok Sabha to amend the insolvency law and provide for a pre-packaged resolution process for stressed MSMEs.
The proposed amendments would enable the government to notify the threshold of a default not exceeding Rs 1 crore for initiation of pre-packaged resolution process. The government has already prescribed the threshold of Rs 10 lakh for this purpose.
The Insolvency and Bankruptcy Code (Amendment) Bill, 2021 -- which was introduced by Corporate and Finance Minister Nirmala Sitharaman -- will replace the ordinance that was promulgated on April 4 as part of efforts to provide relief for MSMEs adversely impacted by the pandemic.
Here are the highlights of Parliament Monsoon Session 2021:
Update| Rajya Sabha adjourned for the day
Update| Rajya Sabha has been adjourned till 5 pm
Update| Lok Sabha adjourned for the day after passage of two bills amid disruptions by opposition members.
Update| The National Institute of Food Technology Entrepreneurship and Management Bill, 2021 passed in Lok Sabha
Update| Rajya Sabha has been adjourned till 4 pm
Update| The Factoring Regulation (Amendment) Bill, 2021 passed in Lok Sabha
Government introduces bill to amend insolvency law in Lok Sabha
Corporate Affairs Minister Nirmala Sitharaman on Monday introduced a bill in the Lok Sabha to replace an ordinance that amended the insolvency law.
The Insolvency and Bankruptcy Code (Amendment) Bill, 2021 was introduced amid Opposition ruckus over various issues.
Ms Sitharaman is in charge of both finance and corporate affairs ministries.
The ordinance to amend the Insolvency and Bankruptcy Code (IBC) was promulgated on April 4, whereby a pre-packaged resolution process for stressed micro, small and medium enterprises (MSMEs) was introduced under the Code.
Generally, under a pre-packaged process, main stakeholders such as creditors and shareholders come together to identify a prospective buyer and negotiate a resolution plan before approaching the National Company Law Tribunal (NCLT). All resolution plans under the IBC need to be approved by NCLT.
Update| Lok Sabha proceedings adjourned till 3 pm amid disruptions by opposition members
Update| Lok Sabha adjourned till 2:45 pm amid uproar by opposition MPs over 'Pegasus Project' report
Update| Rajya Sabha adjourned till 3 pm for the third time today amid ruckus by Opposition MPs over 'Pegasus Project' report
Update| Lok Sabha adjourned till 2 PM amid disruptions by opposition members
Update| Rajya Sabha adjourned till 2 pm amid sloganeering in the House by Opposition MPs, against 'Pegasus Project' media report.
I'm extremely happy to inform you that Mirabai Chanu won a silver medal in Tokyo Olympics. I congratulate her on behalf of the House and myself. I hope that other athletes will also perform well in their respective games and bring laurels to the nation: Lok Sabha Speaker Om Birla.
Lok Sabha and Rajya Sabha congratulate weightlifter Mirabai Chanu for winning a silver medal at Tokyo Olympics.
Delhi Police detains Congress General Secretary Randeep Surjewala, Youth Congress chief Srinivas BV, and some party workers for taking out a tractor march in violation of Section 144 of CrPC.
I've brought farmers' message to Parliament. They (Government) are suppressing voices of farmers and not letting a discussion take place in Parliament. They'll have to repeal these black laws. The entire country knows these laws favour 2-3 big businessmen.
As per Government, farmers are very happy and those (protesting farmers) sitting outside are terrorists. But in reality, farmers' rights are being snatched away: Congress leader Rahul Gandhi after driving a tractor to Parliament
Update| Lok Sabha adjourned till 2 pm
MPs of Shiromani Akali Dal and Bahujan Samaj Party stage a protest at Parliament against the three agriculture laws.
Rajya Sabha members pay tribute to the breavehearts of the Kargil war on the occasion of Kargil Vijay Diwas.
Lok Sabha members pay tribute to the martyrs of the Kargil war on the occasion of Kargil Vijay Diwas.
Update| Rajya Sabha proceedings adjourned till 12 noon after opposition parties create ruckus over various issues
Parliament: Bill to amend Insolvency and Bankruptcy Code, 2016 to be introduced in Lok Sabha today
As the Lok Sabha is all set to resume proceedings on Monday two days after the house was adjourned amid the ruckus created by the Opposition, Union Finance Minister Nirmala Sitharaman will introduce a bill to amend the Insolvency and Bankruptcy Code, 2016.
Ms Sitharaman will also table an explanatory statement showing reasons for immediate legislation by the promulgation of the Insolvency and Bankruptcy Code (Amendment) Ordinance, 2021.
She will also move the bill to amend Factoring Regulation Act, 2011, for consideration.
Another important bill, the National Institutes of Food Technology, Entrepreneurship and Management Bill, 2021, which has already been passed by the Rajya Sabha, will be moved in the Lok Sabha today by Union Food Processing Industries Minister Pashupati Kumar Paras for consideration.
Congress leader Rahul Gandhi drives a tractor to reach Parliament, in protest against the three farm laws.
Update| DMK MP Tiruchi Siva gives suspension of business notice in Rajya Sabha, demanding a discussion on 'Pegasus Project' report
Update| Floor leaders of Opposition parties in Rajya Sabha meet at Leaders of Opposition in Rajya Sabha, Mallikarjun Kharge's office in Parliament, to discuss the strategy regarding the issues raised by them in the House.
Trinamool Congress's Rajya Sabha member Dr Santanu Sen
has been suspended from the House for the remaining part of the monsoon session for snatching IT Minister Ashwini Vaishnaw's statement on the Pegasus snooping allegations.
PM Must Make Statement On Pegasus In Parliament, Says P Chidambaram
Senior Congress leader P Chidambaram on Sunday said the government should either call for a joint parliamentary committee probe into the Pegasus snooping allegations or request the Supreme Court to appoint a sitting judge to investigate the matter, and demanded that Prime Minister Narendra Modi make a statement in Parliament clarifying whether there had been surveillance or not, news agency PTI reported.
For all the updates on earlier developments, click here