{"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":"<div style=\"text-align: justify; line-height: 150%;\">\n<p style=\"margin-bottom: 3%;\">On 12-8-2025, the <span style=\"font-weight: bold;\">Insolvency and Bankruptcy Code (Amendment) Bill, 2025<\/span> was introduced by the Union Finance Minister <span style=\"font-weight: bold;\">Nirmala Sitharaman<\/span>, to reduce delays, maximize value for all stakeholders, and improve governance of all processes under the <span style=\"font-weight: bold;\"><a href=\"http:\/\/www.scconline.com\/DocumentLink\/86F742km\" target=\"_blank\" rel=\"noopener\">Insolvency and Bankruptcy Code, 2016<\/a><\/span> <span style=\"font-weight: bold;\">(\u2018IBC\u2019)<\/span>.<\/p>\n<h3>The proposed amendment:<\/h3>\n<ol style=\"list-style-type: decimal;\">\n<li>Aims to resolve the issues arising in the implementation and to align with changing market needs.<\/li>\n<li>Seeks to modify existing provisions to better align with the overall objectives of IBC.<\/li>\n<li>Introduces new provisions that follow global best practices for resolving insolvency.<\/li>\n<li>Introduces a <span style=\"font-weight: bold;\">new Chapter<\/span> on <span style=\"font-weight: bold;\">\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<li>Introduces the concept of <span style=\"font-weight: bold;\">\u201cgroup insolvency\u201d<\/span> under <span style=\"font-weight: bold;\">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<li>Introduces the concept of <span style=\"font-weight: bold;\">\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<li>\n<p style=\"margin-bottom: 3%;\">Omits the Chapter relating to <span style=\"font-weight: bold;\">\u201cFast Track Corporate Insolvency Resolution Process\u201d.<\/span><\/p>\n<\/li>\n<\/ol>\n<h3>What is Insolvency and Bankruptcy Code, 2016:<\/h3>\n<ol style=\"list-style-type: decimal;\">\n<li>The <span style=\"font-weight: bold;\">Insolvency and Bankruptcy Board of India (\u2018IBBI\u2019)<\/span> has been established to oversee the implementation of regulation of <span style=\"font-weight: bold;\"><a href=\"https:\/\/www.scconline.com\/DocumentLink.aspx?q=JTXT-0002802178\" target=\"_blank\" rel=\"noopener\">Insolvency and Bankruptcy Code, 2016<\/a>.<\/span><\/li>\n<li>It was enacted to bring together various laws related to insolvency and bankruptcy into one single framework.<\/li>\n<li>It ensures that insolvency processes are completed within a specified time to preserve asset value.<\/li>\n<li>It seeks to fairly balance the interests of creditors, debtors, employees, and the government.<\/li>\n<li>\n<p style=\"margin-bottom: 3%;\">It alters the traditional order of payment, especially concerning government dues.<\/p>\n<\/li>\n<\/ol>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p style=\"font-style: italic;\">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":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.4 (Yoast SEO v27.4) - 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