Parliament passes Insolvency and Bankruptcy Code Bill, 2026
The Indian Parliament has passed the Insolvency and Bankruptcy Code (Amendment) Bill, 2026, aiming to address procedural delays and interpretational issues. The bill seeks to further strengthen the existing insolvency framework, incorporating global best practices and reflecting experience gained since the law's implementation in 2016.
The Indian Parliament has passed the Insolvency and Bankruptcy Code (Amendment) Bill, 2026. The bill aims to address procedural delays and interpretational issues among companies and individuals. It has 12 amendments, including 11 recommended by the Select Committee and one introduced by the government. The Insolvency and Bankruptcy Code has been a key factor in improving the health of India's banking sector. The government has recovered over 54 thousand 528 crore rupees through the IBC. The bill introduces new transparency measures, including recording reasons for selecting the successful resolution applicant.
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