The Indian government has introduced the Insolvency and Bankruptcy Code (Amendment) Bill, 2025, in the Lok Sabha, proposing significant changes to the existing law. The Insolvency Bill is designed to reduce delays, maximize asset value for stakeholders, and enhance the overall effectiveness of the insolvency and bankruptcy framework. Key proposed changes Creditor-Initiated Insolvency Resolution Process:…
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The another significant amendment is shifting the Competition Commission of India (CCI) approval timeline — allowing the CoC to approve a plan without waiting for prior CCI approval. This means only the successful resolution applicant will need to secure CCI clearance post-CoC approval. Under the current framework, all prospective resolution applicants are required to obtain CCI…
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The Bill outlines a creditor-led, largely out-of-court insolvency process for quick rescue, faster tribunal timelines, a new framework for group insolvencies and cross-border bankruptcies, and clearer rules on the priority of government dues. It also marks a big departure from the current regime by allowing management of bankrupt companies to continue running day-to-day operations under…
New Delhi, Aug 12 (PTI) The government on Tuesday introduced a bill in the Lok Sabha to amend the insolvency law, proposing a raft of amendments, including an out-of-court mechanism to address genuine business failures, group and cross-border insolvency frameworks. Besides, provisions have been proposed to reduce the time taken for admission of insolvency resolution…
Finance and Corporate Affairs Minister Nirmala Sitharaman on Tuesday introduced a bill in the Lok Sabha to amend the Insolvency and Bankruptcy Code, 2016. The Insolvency and Bankruptcy Code (Amendment) Bill, 2025 has been referred to a select committee, which will make a report by the first day of the Winter Session of the Parliament. The…