Parliament Budget Session Highlights: Sambit Patra Accuses Congress of Romanticizing Maoism; Lok Sabha Approves Insolvency and Bankruptcy Code (Amendment) Bill, 2025

Finance Minister Nirmala Sitharaman has announced that a total of 12 amendments are being proposed to the Insolvency and Bankruptcy Code (IBC) in India. The amendments aim to streamline the insolvency process and address various challenges faced by stakeholders in the bankruptcy framework.

The Rajya Sabha, the upper house of India’s Parliament, was adjourned until 2 p.m. today, providing members an opportunity to review and discuss the proposed changes.

The Insolvency and Bankruptcy Code, enacted in 2016, serves as a comprehensive framework for insolvency and bankruptcy resolution in the country, aiming to facilitate the timely resolution of distressed assets and improve the overall business environment. The proposed amendments could reflect the governments ongoing efforts to enhance regulatory efficiency and investor confidence in the Indian economy. The details of these amendments are expected to be further elaborated in upcoming parliamentary sessions.