{"id":356560,"date":"2025-08-13T16:00:34","date_gmt":"2025-08-13T10:30:34","guid":{"rendered":"https:\/\/www.scconline.com\/blog\/?p=356560"},"modified":"2025-08-13T16:12:23","modified_gmt":"2025-08-13T10:42:23","slug":"insolvency-and-bankruptcy-code-amendment-bill-2025-introduced","status":"publish","type":"post","link":"https:\/\/www.scconline.com\/blog\/post\/2025\/08\/13\/insolvency-and-bankruptcy-code-amendment-bill-2025-introduced\/","title":{"rendered":"Insolvency and Bankruptcy Code (Amendment) Bill, 2025 proposes group and cross- border insolvency"},"content":{"rendered":"
\n

On 12-8-2025, the Insolvency and Bankruptcy Code (Amendment) Bill, 2025<\/span> was introduced by the Union Finance Minister Nirmala Sitharaman<\/span>, to reduce delays, maximize value for all stakeholders, and improve governance of all processes under the Insolvency and Bankruptcy Code, 2016<\/a><\/span> (\u2018IBC\u2019)<\/span>.<\/p>\n

The proposed amendment:<\/h3>\n
    \n
  1. Aims to resolve the issues arising in the implementation and to align with changing market needs.<\/li>\n
  2. Seeks to modify existing provisions to better align with the overall objectives of IBC.<\/li>\n
  3. Introduces new provisions that follow global best practices for resolving insolvency.<\/li>\n
  4. Introduces a new Chapter<\/span> on \u201cCreditor Initiated Insolvency Resolution Process\u201d<\/span> with an out-of-court initiation mechanism for genuine business failures to facilitate faster and more cost-effective insolvency resolution, with minimal business disruption.Once the bill becomes law, this will help ease the burden on judicial systems, promote ease of doing business and improve access to credit.<\/li>\n
  5. Introduces the concept of \u201cgroup insolvency\u201d<\/span> under Chapter V-A<\/span>, which seeks to efficiently resolve insolvencies involving complex corporate group structures, minimizing value destruction caused by fragmented proceedings and maximizing value for creditors through coordinated decision-making.<\/li>\n
  6. Introduces the concept of \u201ccross- border insolvency\u201d<\/span> which seeks to lay the foundation for protecting stakeholders interests in domestic and foreign proceedings, promoting investor confidence and aligning domestic practices with international best practices.<\/li>\n
  7. \n

    Omits the Chapter relating to \u201cFast Track Corporate Insolvency Resolution Process\u201d.<\/span><\/p>\n<\/li>\n<\/ol>\n

    What is Insolvency and Bankruptcy Code, 2016:<\/h3>\n
      \n
    1. The Insolvency and Bankruptcy Board of India (\u2018IBBI\u2019)<\/span> has been established to oversee the implementation of regulation of Insolvency and Bankruptcy Code, 2016<\/a>.<\/span><\/li>\n
    2. It was enacted to bring together various laws related to insolvency and bankruptcy into one single framework.<\/li>\n
    3. It ensures that insolvency processes are completed within a specified time to preserve asset value.<\/li>\n
    4. It seeks to fairly balance the interests of creditors, debtors, employees, and the government.<\/li>\n
    5. \n

      It alters the traditional order of payment, especially concerning government dues.<\/p>\n<\/li>\n<\/ol>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

      Proposed amendment aims to improve its operation, enhance its effectiveness, clarify its original intent and incorporate novel concepts.<\/p>\n","protected":false},"author":67515,"featured_media":356571,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[4,13],"tags":[16621,79276,87163,87164,87165,71470,29471,30361,16901,22064,28014],"class_list":["post-356560","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-legislationupdates","category-statutes","tag-16621","tag-79276","tag-creditor-initiated-insolvency-resolution-process","tag-cross-border-insolvency","tag-fast-track-corporate-insolvency-resolution-process","tag-group-insolvency","tag-ibbi","tag-ibc","tag-insolvency-and-bankruptcy-board-of-india","tag-insolvency-and-bankruptcy-code","tag-insolvency-and-bankruptcy-code-amendment-bill"],"yoast_head":"\nInsolvency and Bankruptcy Code (Amendment) Bill, 2025 | SCC Times<\/title>\n<meta name=\"description\" content=\"Union Minister 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Committee on Finance submits its 6th Report on — Insolvency and Bankruptcy (Second Amendment) Bill, 2019","author":"Bhumika Indulia","date":"March 5, 2020","format":false,"excerpt":"Standing Committee on Finance (2019-2020) prsented the Sixth Report on Insolvency and Bankruptcy (Second Amendment) Bill, 2019 in Lok Sabha on 04-03-2020. Insolvency and Bankruptcy Code was enacted on May 28, 2016, to consolidate and amend the laws relating to reorganization and insolvency resolution of corporate persons, partnership firms and\u2026","rel":"","context":"In "Legislation Updates"","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/09\/Parliament_Colour.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/09\/Parliament_Colour.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/09\/Parliament_Colour.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/09\/Parliament_Colour.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/09\/Parliament_Colour.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":223215,"url":"https:\/\/www.scconline.com\/blog\/post\/2019\/12\/12\/cabinet-approves-insolvency-and-bankruptcy-code-second-amendment-bill-2019-amendments-would-further-ease-doing-of-business\/","url_meta":{"origin":356560,"position":1},"title":"Cabinet approves Insolvency and Bankruptcy Code (Second Amendment) Bill, 2019; Amendments would further ease doing of business","author":"Bhumika Indulia","date":"December 12, 2019","format":false,"excerpt":"The Union Cabinet has approved the proposal to make amendments in the Insolvency and Bankruptcy Code, 2016 (code), through the Insolvency and Bankruptcy Code (Second Amendment) Bill, 2019. The amendments aim to remove certain difficulties being faced during the insolvency resolution process to realise the objects of the code and\u2026","rel":"","context":"In "Legislation Updates"","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/CABINET-SECRETARIAT.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/CABINET-SECRETARIAT.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/CABINET-SECRETARIAT.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/CABINET-SECRETARIAT.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2019\/02\/CABINET-SECRETARIAT.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":236288,"url":"https:\/\/www.scconline.com\/blog\/post\/2020\/09\/25\/presidential-assent-insolvency-and-bankruptcy-code-second-amendment-act-2020-temporary-suspension-of-initiation-of-corporate-insolvency-resolution-process\/","url_meta":{"origin":356560,"position":2},"title":"Presidential Assent | Insolvency and Bankruptcy Code (Second Amendment) Act, 2020; Temporary Suspension of Initiation of Corporate Insolvency Resolution Process","author":"Bhumika Indulia","date":"September 25, 2020","format":false,"excerpt":"The Insolvency and Bankruptcy Code (Second Amendment) Bill, 2020 received Presidential assent on 23-09-2020. Insolvency and Bankruptcy Code (Second Amendment) Act, 2020 Key Features: Suspension of Initiation of Corporate Insolvency Resolution Process In light of the extraordinary situation caused by the COVID-19 pandemic, a need was felt to temporarily suspend\u2026","rel":"","context":"In "Legislation Updates"","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":226804,"url":"https:\/\/www.scconline.com\/blog\/post\/2020\/03\/09\/insolvency-and-bankruptcy-code-amendment-bill-2020-passed-by-lok-sabha-protection-to-corporate-debtor-from-past-offences-as-well-as-ones-committed-during-insolvency-process\/","url_meta":{"origin":356560,"position":3},"title":"Insolvency and Bankruptcy Code (Amendment) Bill, 2020 passed by — Lok Sabha | Protection to Corporate Debtor from past offences as well as one’s committed during insolvency process","author":"Bhumika Indulia","date":"March 9, 2020","format":false,"excerpt":"Lok Sabha passes the Insolvency and Bankruptcy Code (Amendment) Bill, 2020 on 06-03-2020. Series of amendments have been laid down in the said Bill. One of the significant insertions that have been brought in the Bill is Insertion of new Section 32 A After Section 32 of the principal Act,\u2026","rel":"","context":"In "Legislation Updates"","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/02\/PARLIAMENT.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/02\/PARLIAMENT.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/02\/PARLIAMENT.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/02\/PARLIAMENT.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2017\/02\/PARLIAMENT.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]},{"id":223671,"url":"https:\/\/www.scconline.com\/blog\/post\/2019\/12\/30\/president-promulgates-insolvency-and-bankruptcy-code-amendment-ordinance-2019\/","url_meta":{"origin":356560,"position":4},"title":"President promulgates Insolvency and Bankruptcy Code (Amendment) Ordinance, 2019","author":"Bhumika Indulia","date":"December 30, 2019","format":false,"excerpt":"President on 28-12-2019 promulgated the Insolvency and Bankruptcy Code (Amendment) Ordinance, 2019 to amend the Insolvency and Bankruptcy Code, 2016. Insolvency and Bankruptcy Code (Second Amendment) Bill, 2019 was introduced in the House of People on 12-12-2019 though it could not be taken up for consideration. At present, though the\u2026","rel":"","context":"In "Legislation Updates"","block_context":{"text":"Legislation Updates","link":"https:\/\/www.scconline.com\/blog\/post\/category\/legislationupdates\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":262163,"url":"https:\/\/www.scconline.com\/blog\/post\/2022\/02\/21\/understanding-the-jurisdictional-dilemma-in-personal-guarantors-insolvency-resolution-process\/","url_meta":{"origin":356560,"position":5},"title":"To File or not to File: Understanding the Jurisdictional Dilemma in Personal Guarantor\u2019s Insolvency Resolution Process","author":"Editor","date":"February 21, 2022","format":false,"excerpt":"by Shivam Singhal\u2020","rel":"","context":"In "Op Eds"","block_context":{"text":"Op Eds","link":"https:\/\/www.scconline.com\/blog\/post\/category\/op-ed\/legal-analysis\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/02\/MicrosoftTeams-image-142-5.jpg?resize=350%2C200&ssl=1","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/02\/MicrosoftTeams-image-142-5.jpg?resize=350%2C200&ssl=1 1x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/02\/MicrosoftTeams-image-142-5.jpg?resize=525%2C300&ssl=1 1.5x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/02\/MicrosoftTeams-image-142-5.jpg?resize=700%2C400&ssl=1 2x, https:\/\/i0.wp.com\/www.scconline.com\/blog\/wp-content\/uploads\/2022\/02\/MicrosoftTeams-image-142-5.jpg?resize=1050%2C600&ssl=1 3x"},"classes":[]}],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/356560","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/users\/67515"}],"replies":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/comments?post=356560"}],"version-history":[{"count":0,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/posts\/356560\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/media\/356571"}],"wp:attachment":[{"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/media?parent=356560"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/categories?post=356560"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.scconline.com\/blog\/wp-json\/wp\/v2\/tags?post=356560"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}