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NEW DELHI: On April 6, 2026, the President of India gave assent to the Insolvency and Bankruptcy Code (Amendment) Act, 2026–No. 6 of 2026–and the legislation was published in the Gazette of India. A decade after the original IBC was enacted in 2016, Parliament has approved what practitioners call the most comprehensive rewrite of the…
NEW DELHI: Finance minister Nirmala Sitharaman said amendments to the Insolvency & Bankruptcy Code (IBC) will help maximise value for stakeholders as the Lok Sabha passed the bill on Monday.She said the 12th Amendment seeks to strengthen the existing insolvency framework, as well as address practical challenges, and incorporate evolving global best practices. She added…
NEW DELHI: Supreme Court on Wednesday flagged the substantial haircuts taken by creditors in proceedings under Insolvency and Bankruptcy Code (IBC) after being told how the bankrupt Reliance Communications of Anil Ambani group was bought at a throwaway price by Mukesh Ambani’s Reliance Jio.Solicitor general Tushar Mehta said, “Apropos the SC’s concern, govt of India…
A Parliamentary panel has called for sweeping improvements to India’s insolvency framework, including a new advance ruling mechanism that would give stakeholders clarity even before a case is admitted under the Insolvency and Bankruptcy Code (IBC). The proposal is aimed at reducing avoidable litigation and safeguarding the time-bound nature of the resolution process, according to…
The Institute of Chartered Accountants of India (ICAI) on Thursday presented its suggestions to a Parliamentary panel reviewing proposed changes to the Insolvency and Bankruptcy Code (IBC), aimed at strengthening and streamlining the insolvency resolution framework.The Select Committee of Parliament, headed by BJP MP Baijayant Panda, is examining the Insolvency and Bankruptcy Code (Amendment) Bill,…
Tejasvi Surya & Baijayant Panda NEW DELHI: BJP MP Baijayant Panda has been appointed chairperson of the parliamentary select committee on the Insolvency and Bankruptcy Code (Amendment) Bill, 2025, while BJP member Tejasvi Surya will head the select committee on the Jan Vishwas (Amendment of Provisions) Bill, 2025.The Lok Sabha Secretariat has also released the…
