Ihave been contemplating a short article on the
disquieting nature of governance for some time. This desire got hastened after
media reports sometime back that the I&B Ministry had to withdraw its
guidelines on ‘fake news’ at the behest of the Prime Minister’s Officer (PMO.
Such reports made me recollect some worrying aspects concerning laws relating
to Income Tax, Companies Act and the recently enacted Insolvency and Bankruptcy
Code, 2016 (IBC). I will initiate this discussion from the IBC because
developments concerning this legislation are clearly indicative of the position
that something is basically wrong with lawmaking in the country.
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