April 3, 2026

insolvency

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Parliament passes insolvency law amendments to speed up resolutions; Sitharaman says aim is revival, not liquidation

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Parliament on Wednesday passed amendments to the Insolvency and Bankruptcy Code (IBC) aimed at expediting resolution of stressed companies and reducing case backlogs, with Finance Minister Nirmala Sitharaman underlining that the objective is to revive firms rather than liquidate them, according to PTI.The Rajya Sabha cleared the Insolvency and Bankruptcy Code (Amendment) Bill, 2026 by…

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Lok Sabha passes Bill to amend Insolvency and Bankruptcy Code; here’s what it means

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The Lok Sabha on Monday cleared the Insolvency and Bankruptcy Code (Amendment) Bill, 2025, as finance and corporate affairs minister Nirmala Sitharaman highlighted the law’s role in reshaping the country’s banking landscape. Speaking in the House, Sitharaman said that the Bill, introduced a decade back in 2016, has been instrumental in improving the health of…

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Homebuyers’ interests must be protected in real estate insolvency: Supreme Court directs COC to record reasons for major decisions

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The Court emphasized that creditors invoking the IBC must do so with a genuine intent to pursue revival of the corporate debtor. (AI image) The Supreme Court on 15.01.2026, clarified the scope of admission of insolvency proceedings under Section 7 of the Insolvency and Bankruptcy Code, 2016 (IBC), holding that once the existence of financial…

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Govt plans to table Insolvency and Bankruptcy Code Amendment Bill in Budget session phase two; aims faster resolution timelines

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The government plans to introduce the Insolvency and Bankruptcy Code (Amendment) Bill, 2025 in the second half of the Budget session beginning March 9, Finance Minister Nirmala Sitharaman said, adding that the parliamentary committee examining the proposed law has already submitted its report.The proposed changes are aimed at further improving timelines and effectiveness of insolvency…

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India must allow insolvency and bankruptcy to build dynamic, risk-taking economy: PM’s Economic Advisory Council member Sanjeev Sanyal

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India must allow insolvency and bankruptcy to build dynamic, risk-taking economy: PM’s Economic Advisory Council member Sanjeev Sanyal NEW DELHI: India needs to be comfortable with people and companies going bankrupt, as continuous insolvency and bankruptcy are essential for building a risk-taking and dynamic economy, said Economic Advisory Council to the Prime Minister (EAC-PM) member…

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Insolvency ruling: CoC cannot alter approved resolution plan or reallocate dissenting creditors’ funds, says NCLAT

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The insolvency appellate tribunal NCLAT has ruled that the Committee of Creditors (CoC) cannot modify an approved resolution plan to reallocate funds meant for dissenting financial creditors, reaffirming limits on the exercise of commercial wisdom after a plan has been cleared, PTI reported.Dismissing an appeal filed by Bank of Baroda in the insolvency proceedings of…

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Manipal seeks to take part in Byju’s parent insolvency

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BENGALURU: Manipal Education and Medical Group India (MEMG) submitted an expression of interest (EoI) to participate in corporate insolvency resolution process (CIRP) of Think & Learn, the parent company of Byju’s.In a statement on Thursday, MEMG India said it sought inclusion in list of prospective resolution applicants and requested access to company’s financial and operational…

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