New Delhi, March 30 -- The Lok Sabha on Monday passed the Insolvency and Bankruptcy Code (Amendment) Bill, 2025 which seeks to reduce delays, maximise value for all stakeholders and improve governance of all processes for companies going through corporate insolvency resolution process (CIRP) under the insolvency law.
Among the key new provisions, the Bill has provided for a creditor-initiated insolvency resolution process with an out-of-court initiation mechanism for genuine business failures. Once implemented, this will help ease the burden on judicial systems, promote ease of doing business and improve access to credit.
The Bill has also proposed to introduce provisions for group insolvency and cross-border insolvency.
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