The Insolvency Code has been referred to a Select Committee, which will go through it with a fine toothcomb. It should give its report in the budget session. Once the Lok Sabha passes the Bill, it will be sent to the Rajya Sabha. The Rajya Sabha can do three things: pass it, suggest changes or reject it. But all this has to be done within 14 days. In case amendments are suggested, the bill goes back to the Lok Sabha, but the lower house need not accept these suggestions. Rejection or stalling also has no value. The Bill becomes a law after 14 days.