The Ordinance keeps out those promoters who have willfully defaulted on their debt obligations or are habitually non-compliant.
The govt will soon promulgate an ordinance to amend the Insolvency and Bankruptcy Code, aimed at tightening the current framework of insolvency cases.
Eyeing the debt-laden Essar Steel and Bhushan Steel for acquisition, a delegation from global giant ArcelorMittal visited their plants for due diligence.
The court directed the Jaypee Associates to deposit Rs 150 crore by December 14 and another Rs 125 crore by December 31.
The FinMin has asked banks to be vigilant to ensure that wilful defaulters are prevented from buying same stressed assets again, sources said.