Finance Minister
Nirmala Sitharaman
on Tuesday introduced Bankruptcy Code Amendment Bill, 2025 to amend the Insolvency and Bankruptcy Code, 2016. The bill has proposed multiple changes to fast-track the insolvency proceedings in the country. The amendments proposed pertain to curbing delays by empowering creditors to initiate insolvency process outside of court in case of genuine business failures.
Enabling provisions for domestic group insolvency and cross-border insolvency, and various other changes are also part of the bill. “These amendments aim to facilitate faster admission, resolution, and liquidation processes, maximize asset value, and improve governance,” a source pointed out. Here…