It is welcome that the government has brought in a bill to amend the Insolvency and Bankruptcy Code (IBC) of 2016. It is equally welcome that the bill in Parliament has been referred right away to a select committee.
Legislation of this kind calls for careful deliberation, an opportunity for stakeholders to present their views to lawmakers and for the latter to arrive at a balanced view of the statutory proposals. That we need to amend the working of the corporate insolvency resolution process (CIRP) under the IBC is beyond dispute.
Also Read: IBC reforms: Let’s strengthen the Code as a key growth enabler
The number of IBC cases…