Parliamentary Committees Address Cybercrime and Insolvency Amendments

The Parliamentary Standing Committee on Home Affairs, spearheaded by BJP MP Radha Mohan Das Agrawal, is set to convene this Thursday to deliberate on critical measures for combating cybercrime. Key ministries and organizations are expected to provide their perspectives on 'Cyber Crime - Ramifications, Protection and Prevention'. A subsequent session on Friday will continue these crucial discussions.

In parallel, the Parliamentary Standing Committee on Finance, under the leadership of BJP MP Bhartruhari Mahtab, will also meet to garner oral testimonies from banking representatives, including those from the State Bank of India, Bank of Baroda, Indian Bank, and Indian Overseas Bank. The focus will be the 'Review of working of Insolvency and Bankruptcy Code and Emerging Issues'. Additionally, RBI Governor Sanjay Malhotra is scheduled to update the committee on 'RBI's Evolving Role in India's Dynamic Economy'.

The central government is poised to introduce an amendment to the Insolvency and Bankruptcy Code (IBC) during the forthcoming monsoon session of Parliament, insiders inform ANI. The proposed revision to Section 31(4) aims to alleviate the burden on the Competition Commission of India (CCI) by eliminating the need for CCI's pre-approval for company resolutions under IBC, despite the Supreme Court's recent ruling against the unsanctioned resolution by AGI Greenpac regarding Hindustan National Glass Ltd.

(With inputs from agencies.)