The Insolvency and Bankruptcy Code (Amendment) Act, 2026 (No. 6 of 2026), which received Presidential assent on 6 April 2026, represents the most comprehensive legislative overhaul of India’s insolvency framework since the Code’s enactment in 2016. By notification dated 22 May 2026, the Ministry of Corporate Affairs appointed 26 May 2026 as the date of commencement for the majority of its 72 sections, bringing sweeping changes to the Corporate Insolvency Resolution Process (CIRP), liquidation mechanics, adjudicatory timelines, penalty structures, and, most significantly, introducing an entirely new creditor-initiated resolution framework alongside provisions for group and cross-border insolvency.
This article provides a structured…