The Committee recommended a three-month deadline for the NCLAT to decide insolvency appeals and suggested expanding the scope of resolution plans under the corporate insolvency resolution process.
IBC Amendment Bill 2025 Seeks Faster Insolvency Resolution, Codifies ‘Clean Slate’ Principle: Baijayant Panda
The Insolvency and Bankruptcy Code (Amendment) Bill, 2025, seeks to address persistent delays in insolvency proceedings by tightening statutory timelines and formally codifying the clean slate principle.
Lok Sabha MP Baijayant Panda said the Bill aims to reduce the average resolution period to six to seven months, which is expected to improve recovery rates for creditors.
The Bill was introduced in the Lok Sabha in August 2025 and was referred to a Select Committee, which has submitted its report to Parliament.
Thanush SBookmark
