The Parliamentary Standing Committee on Finance, led by Bhartruhari Mahtab, has urged the Government to implement comprehensive and urgent reforms to the Insolvency and Bankruptcy Code (IBC), 2016, to address persistent “systemic challenges” that undermine its core objective of time-bound resolution and value maximization.
The Committee’s Twenty-Eighth Report on the ‘Review of Working of Insolvency and Bankruptcy Code and Emerging Issues,’ presented to Parliament on December 2, 2025, acknowledges the IBC’s success, citing the resolution of 1,194 companies and creditor recoveries exceeding $170\%$ of the liquidation value. However, the report expresses profound concern over critical operational failures,…