Govt tables Insolvency and Bankruptcy Code (Amendment) Bill in Lok Sabha

The Insolvency and Bankruptcy Code (Amendment) Bill was tabled in the Lok Sabha, replacing the underutilized fast-track process with a new creditor-initiated insolvency framework. This framework includes out-of-court settlements and debtor/creditor control models.

Key takeaways

Quick scan — what you need to know:

• The Insolvency and Bankruptcy Code (Amendment) Bill was tabled in the Lok Sabha, replacing the underutilized fast-track process with a new creditor-initiated insolvency framework.
• This framework includes out-of-court settlements and debtor/creditor control models.
• The IBC has already facilitated the resolution of 1,376 companies, recovering Rs 4.11 lakh crore.

Background

What led here, in plain terms:

• This framework includes out-of-court settlements and debtor/creditor control models.
• The IBC has already facilitated the resolution of 1,376 companies, recovering Rs 4.11 lakh crore.

Why it matters

Why readers and decision-makers should care:

• The IBC has already facilitated the resolution of 1,376 companies, recovering Rs 4.11 lakh crore.
• The Insolvency and Bankruptcy Code (Amendment) Bill was tabled in the Lok Sabha, replacing the underutilized fast-track process with a new creditor-initiated insolvency framework.
• This framework includes out-of-court settlements and debtor/creditor control models.