A Lok Sabha select committee has suggested several changes to the Insolvency and Bankruptcy Code (IBC) to make India’s insolvency system clearer, faster, and less prone to legal disputes.
The committee, headed by BJP MP Baijayant Panda, submitted its report to the Lok Sabha nearly four months after the Insolvency and Bankruptcy Code (Amendment) Bill, 2025 was introduced. The Bill was presented in the House on 12 August and was sent to the select committee the same day on a motion moved by Finance and Corporate Affairs Minister Nirmala Sitharaman.
The committee said its recommendations aim to tighten procedures, clearly explain the intent of the law, and reduce unnecessary litigation during insolvency proceedings.
One of the key…