The Bill, originally introduced on August 12, 2025, seeks to amend the Insolvency and Bankruptcy Code, 2016, which established a unified and time-bound mechanism to resolve insolvency across companies, partnership firms, and individuals.
Replying to the Insolvency and Bankruptcy Code (Amendment) Bill 2025 in the Lok Sabha, she said, "IBC has contributed a lot in terms of keeping institutions alive… companies have found resolution, their values have been brought up, valuation improved, and the workforce has been protected."
Does the Insolvency and Bankruptcy Code fix debt or fuel the economy, asks Debarshi Chakraborty
Earlier, the lenders of Reliance Capital had given an extension of 30 days to the bidders for submission of binding bids, along with an EMD of Rs 75 crore, by October 31.
