New Delhi: Nine years after the introduction of the Insolvency and Bankruptcy Code (IBC), 2016, the government has unveiled a new bill proposing major reforms that seek to fix delays, streamline implementation and bring India’s insolvency system in line with global standards.
The Insolvency and Bankruptcy Code (Amendment) Bill, 2025—introduced in the Lok Sabha on 12 August by Finance Minister Nirmala Sitharaman, and currently before a Joint Parliamentary Committee—introduces seven major changes, from creditor-led pre-insolvency resolution, to cross-border and group insolvency frameworks.
The amendments seek to address concerns about the original IBC 2016, which has suffered from several problems, such as procedural delays and…