Insolvency Law Overhaul: A New Chapter Begins
Finance Minister Nirmala Sitharaman introduced an amendment bill for the insolvency law in the Lok Sabha. The 2025 Insolvency and Bankruptcy Code (Amendment) Bill has been sent to a select committee for further review. The law, managed by the Corporate Affairs Ministry, has seen six updates since 2016.
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- India
Finance Minister Nirmala Sitharaman on Tuesday introduced a new amendment bill aimed at overhauling the insolvency law in the Lok Sabha. Following its introduction, the Insolvency and Bankruptcy Code (Amendment) Bill, 2025, has been sent for further examination by a select committee.
The legislative move marks another significant step in the ongoing refinement of the insolvency law, which has been under the purview of the Corporate Affairs Ministry, also led by Sitharaman. Introduced in 2016, the Code has already undergone six legislative revisions, with the last occurring in 2021.
The forthcoming revisions in the Insolvency and Bankruptcy Code are expected to streamline current procedures and address any shortcomings within the existing framework, bolstering India's corporate regulatory environment.
(With inputs from agencies.)
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