The Lok Sabha on Tuesday passed the Insolvency and Bankruptcy Code (Second Amendment) Bill, 2018 that recognises homebuyers as financial creditors to real estate developers. The bill also proposes a special dispensation for small sector enterprises. The IBC Amendment Bill now requires clearance from Rajya Sabba to replace the June 6 ordinance that sought to put these amendments into force to aid quick resolution of several bankrupt firms. Moving the bill in Lok Sabha, interim finance minister Piyush Goyal said, “We want to address concerns expressed by the MSME sector and homebuyers. We have learnt from two years of implementation of IBC, and through the amendments, we want to strengthen IBC Bill.” The minister also said that the objective of the bill was not to liquidate the companies but to save jobs in those companies. “After years of lethargy in recovering bank loans, finally we now have a new law — the Insolvency and Bankruptcy Code 2016, which has started bringing big bank