The new insolvency law regarding loans of natural persons

Hello,

About the new insolvency law for a natural person, does this also include Small & Medium Enterprise (SME) owners?

I am specifically asking about those businessmen who have business loans from banks and unable to service the loan, where the banks file a criminal case against the owner known as bounced cheque case.

Are these businessmen also covered under the insolvency law, so that they get a chance to sort out their debts?