IBC Amendment 2026 Gets Presidential Assent, Brings Major Reforms

The Insolvency and Bankruptcy Code (Amendment) Act, 2026 has received Presidential assent, introducing major reforms to speed up insolvency resolution.

A key change is the creditor-initiated insolvency resolution process (CIIRP), allowing financial creditors to start proceedings outside courts with majority approval. The amendment aims to reduce delays and ease the burden on tribunals.

It also introduces stricter timelines, including faster approval of resolution plans and defined limits for liquidation.

Overall, the reforms seek to make the insolvency process quicker, more efficient, and creditor-friendly while improving ease of doing business in India.