The Insolvency and Bankruptcy Code (IBC) has been a game-changer and has transformed the insolvency landscape by fostering transparency, accountability and efficiency in corporate dispute resolution and laying the foundation of a more resilient and robust economy, Financial Services Secretary M Nagaraju said on Wednesday.
“Despite these achievements, several challenges still remain, which include timelines of resolutions and liquidations, resulting in value deterioration, low realisations to creditors and capacity constraints at National Company Law Tribunal (NCLT),” he said while addressing an event organised by IBBI and Insol India.
The seventh amendment — IBC Amendment Bill 2025, as recommended by the select committee, seeks to…