Lok Sabha Passes Insolvency and Bankruptcy Code (Amendment) Bill 2026

Lok Sabha Passes Insolvency and Bankruptcy Code (Amendment) Bill 2026

Daily Current Affairs   /   Lok Sabha Passes Insolvency and Bankruptcy Code (Amendment) Bill 2026

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Category : National Published on: April 02 2026

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  • Lok Sabha passed the Insolvency and Bankruptcy Code (Amendment) Bill on March 30, 2026.
  • The amendments aim to speed up insolvency resolutions, reduce delays, and boost creditor confidence.
  • Finance Minister Nirmala Sitharaman stated that IBC has resolved over 1,376 companies and recovered ₹4.11 lakh crore.
  • Key provision: Mandatory admission of insolvency applications within 14 days of established default.
  • Introduces creditor-driven model with out-of-court settlements and debtor-in-possession options.
  • The new framework includes group insolvency and cross-border insolvency provisions for the first time.
  • Amendments focus on faster processes, reduced litigation, and better protection for workmen dues.
  • Expected to strengthen the banking sector and improve NPA recovery.
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