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New Delhi, Apr 1 (PTI) The Insolvency and Bankruptcy Code has helped in improving the health of the Indian banking sector, Finance and Corporate Affairs Minister Nirmala Sitharaman said on Wednesday. Parliament passed the Insolvency and Bankruptcy Code (Amendment) Bill, 2026, after the Rajya Sabha approved the bill with a voice vote. It was approved by the Lok Sabha on March 30. Replying to a short discussion on the bill in the Rajya Sabha, the minister said the World Bank, in its 2019 report, ...Read More >
Nirmala Sitharaman presented a bill in Lok Sabha to amend the Insolvency and Bankruptcy Code. The bill is now with a parliamentary committee for review. The changes aim to speed up bankruptcy resolutions and improve creditor recoveries. The creditor-led resolution framework will reduce the workload of the National Company Law Tribunal. Finance and corporate affairs minister Nirmala Sitharaman on Tuesday introduced a bill in the Lok Sabha for amendments to the Insolvency and Bankruptcy Code (IBC ...Read More >
However, the NCLT did not pass the approval order on Thursday and deferred the decision, scheduling the next hearing for 6 December. It is expected that the tribunal will pass the liquidation order and may approve the CoC's proposed liquidator at that time. Venkatasubramanian is a Chartered Accountant and is registered as an Insolvency Professional with the Insolvency & Bankruptcy Board of India. He is a partner at Ernst & Young Restructuring, specializing in crisis stabilization, liquidity man ...Read More >
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