New Delhi: Finance and corporate affairs minister Nirmala Sitharaman on Wednesday moved a bill in the Lok Sabha to amend the Insolvency and Bankruptcy Code, proposing a creditor-initiated framework with largely out-of-court arrangements to speed up bankruptcy resolution.
The Insolvency and Bankruptcy Code (Amendment) Bill, 2025, also proposes frameworks for faster resolution of cross-border and corporate group insolvency cases.
Sitharaman moved the bill, as “reported by” the select House committee that vetted it, for the Lok Sabha’s consideration.
The…